How to Request a Payoff Quote

Understanding Your Payoff Quote

A payoff quote provides the current balance on your loan, including principal, accrued interest, and any applicable fees. This quote is essential for understanding the exact amount needed to pay off your loan in full. Please note that the payoff amount is subject to change should any fees, returned payments, or adjustments occur prior to Coastal receiving the payoff funds, including daily interest if the payoff is received after the payoff date.

Prior to submitting your payoff amount, please contact us at 800-868-4262 to confirm the payoff amount.

Getting Your Payoff Quote

Inside Digital Banking:

• Note: Payoff amounts listed inside Digital Banking are only valid for the current date. Please contact us at 800-868-4262 to confirm your payoff amount.
• To learn how to get your payoff quote. Simply ask us using the chat feature inside Digital Banking.

Phone or Fax: 

• For immediate assistance, call Member Service at 800-868-4262.
• Fax requests to 866-384-2560.
• Include the necessary information listed below.

Required Information for Payoff Request

• Member Number
• Loan Number (found on the account summary screen inside Digital Banking)
• Date you expect Coastal to receive your payoff payment
• Member authorization form (if requested by a 3rd party)

For Mortgages:

• Call 919-420-8110
• Fax a payoff request to 1-866-638-6087
• You can also request a Mortgage payoff via secure messaging inside Digital Banking.

How to Send Your Payoff Payment

Completing Your Payment

After receiving your payoff quote, you can send your final payment through any of these convenient methods.

1. Via Digital Banking:

   1. Use our secure platforms for a hassle-free transaction.

2. By Mail:

   1. For consumer loans, send to:
      Coastal Federal Credit Union
      Attn: Payments
      P.O.Box 58429
      Raleigh, NC 27658
   2. For mortgage payoffs, use the address:
      Coastal Federal Credit Union, PO BOX 99167, Raleigh, NC 27624-9167.

3. In-Person:

   1. Visit any of our local branches to make a payment directly.

4. Wiring Instructions:

   1. For consumer loans, call our Member Service Team at 800-868-4262
   2. For mortgage payoffs:
      Coastal Federal Credit Union
      ABA: 253175494
      Address: 1000 St Albans Dr
      Raleigh, NC 27609
      DDA: 253175494
      A/C name: Coastal Federal Credit Union
      FFC: Your Client’s Name and Loan number
      Ref: Mortgage Loan Payoff
      
      Wires not received by 4:00pm EST will be processed the next business day

After Your Payoff

For consumer loans:

• If we received more than we need to pay off the loan or line of credit, we will deposit the overpayment to your savings account.  

For auto loans:

• We will mail your title or lien release to the address that appears on your account within 7-10 business days after payment is received. If the title is held electronically, your state Department of Motor Vehicles will be sending the lien-free title.⁶⁰
• Important: All items will be mailed to the address on the payoff quote. If your mailing address has changed, please complete an address change inside Digital Banking.
• If you need the title sooner, there is an emergency lien release option with a fee from the DMV. Please call Loan Servicing to learn more about this process at 919-882-6698 from 8:30-5:30 EST Monday through Friday.

For mortgages and home equity:

• Any escrows will be netted, meaning that if there is an escrow balance, it will be credited to your payoff minus any due taxes and insurance payments. 
• We’ll mail your IRS Form 1098 (Mortgage Interest Statement) in January, if applicable.  
• The lien release of mortgage and home equity are sent to the county clerk’s office within 30 calendar days of the payoff and the county can take 90 days or greater to record the release. You can request a copy of the lien release from your county recorder’s office 90 days after payoff. 
• If you are unable to obtain a copy of the release, you can request a copy directly from us after it has been recorded.