Chuck Purvis Announces Retirement Plans

Coastal Credit Union President & CEO Chuck Purvis has announced that he plans to retire in March 2023. Purvis has enjoyed a remarkable 40-plus-year career serving credit unions, including time at US Central Credit Union and the North Carolina Credit Union League.  He has been with Coastal since 2001, and was named President and CEO in 2012.

Purvis cites the current strength and leadership of the credit union and committing more time to family as contributing factors in his decision to retire. 

“What’s driven me for 40 years is, make a difference in people’s lives, and leave it better than you found it, said Purvis.  “As I look back, I believe I’m leaving Coastal in a better place. Our success during my tenure has come from having a great team, and great teamwork. The future for Coastal is bright, because our members’ well-being will be in very capable hands.”

He added, “I’ve always believed that you don’t retire from something; you retire to something.  I have two grandsons, growing up way too fast, and a third on the way. My wife and I want to spend more time with them, see them grow up, and be a positive influence in their lives.”

Coastal’s board chair Joan Nelson celebrated Purvis’ accomplishments and contributions to Coastal, and to the industry.

“When Chuck became CEO in 2012, we were a $2 billion credit union,” said Nelson. “Now, we’re knocking on the door of $5 billion, and it’s thanks to his focus on innovation and on serving the community, and his commitment to employees and members.”

Purvis was co-inventor of the personal teller machine and oversaw Coastal using the technology to implement 7am to 7pm teller hours, seven days a week, and later becoming the first financial institution in the world to rely 100% on video tellers for branch transactions. In 2011, he was instrumental in the formation of the Coastal Credit Union Foundation. He also led to the creation of a new digital services platform that was spun off as Constellation Digital Partners in 2017.  

He has served the industry as a past board member of the National Credit Union Foundation, Co-Op Financial Services and Members Development Company.  While chairing the NCUF board, he created the Community Investment Fund, which continues to help fuel much of the work being done at the national and state foundations. Most recently, he was among the industry leaders who spearheaded the formation of the FinHealth Fund.

Purvis has collected numerous industry and business leadership awards, including the Triangle Business Journal’s Businessperson of the Year and CEO of the year; CUES Chief Executive of the Year; and the Herb Wegner Memorial Award.

“The awards that matter most to me, though, are the more than 20 different best workplaces awards that we’ve earned along the way,” said Purvis.  “I’m looking forward to one last year with this amazing team of people, and excited about everything we still have left to accomplish together.”

Coastal’s board of directors has appointed an executive search committee and enlisted D. Hilton Associates, Inc. to conduct the search. The board plans to identify the top candidates later this year and select a successor in the first quarter of 2023.