Coffee With Chuck Ep.20: Building for the Future

Dear Members,

It feels as though as soon as the first warm day of spring arrived, the sound of saws and hammers filled the air. It immediately reminded me of volunteering on a Habitat for Humanity job site, and got me thinking about a couple important ways that Coastal is helping to build our community.

Habitat Donation  

As members may know, Coastal has a long history of supporting Habitat for Humanity.  We were Habitat Wake’s first Community Building Partner, and have committed $6 million in low cost mortgages for Habitat homebuyers since 2016.  Previously, we sponsored a home that was completely funded by a combination of company donations and member fundraisers.

On April 2, I served as honorary chair of Habitat’s annual Blueprint breakfast. Not only did Coastal sponsor the event, but several of our business partners joined us. We even had a table that some of our employees sponsored out of their own pockets

At that breakfast, I was happy to announce that Coastal’s foundation has committed $200,000 to build two homes this year, one in Wake and one in Durham County.

Habitat serves an important role in addressing the growing need for affordable homes in our area. I’m proud of the work that Coastal has done to further their mission, and I look forward to seeing how much more we can do.

New Branches

I’m excited to share that we’ll be doing some building of our own, too. Two new branch projects are slated for this year, in Durham and Raleigh.

Site work is underway for our new Hope Valley branch in Durham, which will replace our Southpoint Crossing location by the end of this year. This summer, we’ll break ground on a brand new branch in Brier Creek, which will open in early 2020.

Both are freestanding locations identical to the Holly Springs branch we opened last fall.

ATM on Teller Machines Update

Back when we opened our Holly Springs branch, we talked about it being the first to offer dual function teller machines. I’m proud to announce that we’ve recently completed that project, and now every machine offers members a choice. During normal teller hours, members get a welcome screen that prompts them to pick whether they want an ATM or Teller transaction.  After hours, the ATM function is available 24/7. 

As we move forward, it will enable us to make more efficient use of our branch space, and especially our drive ups.  Many branches currently have separate lanes for ATM and teller transactions. In the future, we’ll be able to use one type of machine to do both.

Member & Community Impact Report

Finally, I invite you to review our latest Member & Community Impact Report. It’s a great way to tell our story, and I wanted to highlight a few of the things in there:

• The first pages cover our 2018 highlights and financial results
• The next pages review why we exist: our Mission, Vision and Values, and the Cooperative Principles that guide us
• Two new sections this year demonstrate how we are putting members first, and recognizing employee accomplishments and awards
• The center spread breaks down how we gave back $32.4 million in value to members, which we talked about back on Loyalty Bonus Day
• Then we get into our 2018 community impact, which includes the grants that our foundation made, and a recap of our Power of Sharing event

We’ll be sending this electronically to all members who get e-Docs, and will have it published on the website.  Members with paper statements will get a condensed version. There will also be printed copies available in all of our branches, and we’ll those available at our Annual Meeting on April 22 as well.

Sincerely,

Chuck Purvis
President & CEO

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Our featured local coffee is the Deep South from Muddy Dog Roasting Company in Morrisville