Coastal Federal Credit Union

What Coastal Federal Credit Union does

Coastal Federal Credit Union is a federally chartered, not-for-profit financial cooperative founded in 1967 and headquartered in Raleigh, North Carolina. The credit union serves more than 297,000 members across North Carolina's Triangle area through 22 physical branches with extended 7AM-to-7PM teller hours seven days a week, complemented by a digital banking platform (web, iOS, and Android) with mobile check deposit, bill pay, person-to-person payments, and digital wallet support. It also offers access to 55,000+ surcharge-free ATMs nationally via CO-OP, CashPoints, Allpoint, and Sheetz networks. Membership eligibility is established through community charter, employer partnerships, and family programs.

The product portfolio spans consumer and business deposit products (Go Green Checking with tiered APY up to 5.00%, High Yield Savings at 3.00% APY, certificates yielding 3.65%-4.15% APY, money market, HSA, IRA, and Coverdell ESA), consumer lending (auto loans from 4.24% APR, personal loans from 9.49% APR, credit cards, HELOCs, mortgages including VA-backed products), and business banking (checking, savings, business Visa, commercial term loans and lines of credit). Around the core banking relationship, Coastal operates a vertically integrated ecosystem including Coastal Wealth Management (delivered through an LPL Financial partnership), insurance products (TruStage), estate planning (Trust & Will), the Member Assistance Program (GreenPath for free debt counseling), and Daymark Realty, a wholly-owned real estate subsidiary offering 2.1% listing commissions. The credit union is NCUA-insured and holds Equal Housing Lender designation.

The business model follows the standard credit union cooperative structure: net interest margin from consumer and business lending, fee income (overdraft, ATM, wire, origination), and interchange revenue from debit and credit card transactions, supplemented by interchange-driven donations of roughly $400,000 annually to the Coastal Foundation. The most recent product launch is the CashBack+ credit card rewards platform (June 2026), delivered through an expanded partnership with Prizeout, designed to increase card spend and member engagement. Coastal's growth is funded entirely through member deposits and retained earnings; it is a private, non-listed entity with no parent company and no external funding rounds.

Name

Coastal Federal Credit Union

Legal name

Coastal Federal Credit Union

Website

https://coastal24.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Coastal Federal Credit Union is a not-for-profit, member-owned financial cooperative founded in 1967, headquartered in Raleigh, North Carolina, serving 297,000+ members across the Triangle area through 22 branches, a digital banking platform, and an integrated ecosystem spanning lending, wealth management, insurance, and a wholly-owned real estate subsidiary.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending products
• Mortgage financing
• Credit union services
• Wealth management advisory

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income - Consumer Loans: Primary revenue stream from auto loans, mortgages, home equity lines, personal loans, and credit cards. Interest accrues daily on outstanding balances. Competitive rates attract members while maintaining profitable spreads.
2. Interest Income - Business Loans: Revenue from commercial real estate financing, business term loans, revolving lines of credit, and business Visa credit cards for small businesses.
3. Fee Income: Various fee-based services including overdraft fees, ATM fees for non-network usage, wire transfer fees, early withdrawal penalties on certificates, and loan origination fees. Some fees are tiered based on account balances.
4. Interchange Revenue: Revenue from debit and credit card transaction interchange fees. Each card transaction generates interchange income, with community contributions of one penny per transaction going to the Coastal Foundation.
5. Deposit Funding: As a not-for-profit cooperative, deposits from checking, savings, and certificate accounts provide funding for lending operations. Competitive APY rates attract deposits while maintaining favorable spread.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Coastal Federal Credit Union is a not-for-profit, member-owned financial cooperative that provides a comprehensive suite of personal and business banking products including checking accounts, savings accounts, money market accounts, certificates, IRAs, and HSAs. Its lending portfolio spans mortgages, VA home loans, home equity lines of credit, auto loans, personal loans, credit cards, and business loans, complemented by wealth management through LPL Financial, insurance through TruStage, estate planning via Trust & Will, and wholly-owned Daymark Realty for integrated real estate services.

Product overview

Coastal Federal Credit Union operates as a member-owned not-for-profit cooperative offering a comprehensive suite of banking and financial services. The product portfolio spans personal and business banking (checking, savings, certificates, money market accounts), consumer and mortgage lending (mortgages, HELOCs, auto loans, personal loans, credit cards), and advisory services (wealth management through LPL Financial, estate planning via Trust & Will partnership, and insurance products through TruStage). A distinctive feature is Daymark Realty, a wholly-owned real estate subsidiary offering buying and selling services with reduced commissions. The digital banking platform provides account management, mobile check deposit, bill pay, and person-to-person payments. The credit union serves members through 22 branches in central North Carolina with extended 7AM-7PM teller hours seven days a week.

Differentiator

Problem solved

Functional benefit

Brands

• Daymark Realty: Wholly-owned real estate subsidiary of Coastal Credit Union offering residential real estate buying, selling, and new construction services with competitive commission rates and professional marketing.
• Coastal Wealth Management
• Coastal Credit Union Music Park
• Coastal Credit Union Foundation

Products and services

• Go Green Checking Interest-earning checking account with tiered APY up to 5.00% on premium tier (15+ debit card transactions per month, balances up to $10,000) and 0.05% base tier; includes Early Pay feature for direct deposit members; minimum $25 opening deposit.
• Basic Checking
• Student Checking
• Primary Savings
• High Yield Savings
• Go Green Money Market
• Health Savings Account (HSA)
• Education Savings (Coverdell ESA)
• High Yield IRA Savings
• Certificates (Share Certificates)
• Mortgages
• Home Equity Line of Credit (HELOC)
• VA Home Loans
• New & Used Auto Loans
• Auto Loan Refinancing
• Personal Loan
• Personal Line of Credit
• Certificate-Secured Loan
• Signature Premier Rewards Visa Cash back credit card earning 3% at gas stations, 2% at groceries and warehouse stores, 1% on all other purchases; no annual fee; APR 14.75%-18.00% based on creditworthiness.
• Rate Advantage Visa
• Rate Advantage Secured Visa
• Business Checking
• Business Savings
• Business Loans
• Business Visa
• Daymark Realty
• Coastal Wealth Management
• Trust & Will Estate Planning
• Insurance Options (TruStage)
• Digital Banking

Quantifiable outcome

• Members earn $150+ annually in cash back on gift card purchases
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature4 records

Partnerships

13 partnerships are on record, tiered core and minor.

• PrizeoutcoreTechnology or Integration · 3 June 2026Expanded fintech partnership enabling CashBack+ credit card rewards platform built specifically for credit unions. Members earn real cash back on credit card purchases within digital banking platform. Existing partnership generated $150+ annual cash back on gift cards.
• GreenPathcoreStrategic or Co-development PartnerComplimentary financial counseling partnership through Member Assistance Program. GreenPath experts provide debt counseling, credit report reviews, student loan counseling, housing guidance, and debt management plans at no cost to members.
• Trust & WillminorGTM or Marketing PartnerOnline estate planning platform partnership through Love My Credit Union Rewards program. Members receive 20% discount on all online will and trust estate plans.
• LPL FinancialcoreTechnology or IntegrationRegistered investment advisor and broker-dealer providing wealth management, retirement planning, and investment services through Coastal Wealth Management. Offers complimentary retirement planning sessions to members.
• TruStage InsuranceminorGTM or Marketing PartnerInsurance products offered through TruStage Insurance Agency including GAP insurance, credit life and disability insurance, property and vehicle coverage, and accidental death and dismemberment protection.
• CO-OP Financial ServicescoreTechnology or IntegrationATM network partnership providing members access to 55,000+ surcharge-free ATMs nationwide.
• AllpointcoreTechnology or IntegrationSurcharge-free ATM network partner expanding nationwide cash access for members.
• CU Auto MarketplaceminorGTM or Marketing PartnerAuto sales platform partnership offering members exclusive $1,000 discount on pre-owned vehicles. Platform provides personally inspected vehicles, free delivery within 250 miles, and integrated financing.
• AutoSMARTminorGTM or Marketing PartnerCar buying research tool partnership helping members research, find, and finance vehicles with dealer reviews and fair market value pricing.
• Live Nation / Coastal Credit Union Music ParkminorGTM or Marketing PartnerNaming rights partnership for outdoor music venue. Members receive presale ticket access, free Fast Lane entry, and 10% concession discounts.
• Carolina HurricanesminorGTM or Marketing PartnerNHL team partnership offering discounted tickets to games with proceeds supporting Coastal Credit Union Foundation.
• NC ZoominorGTM or Marketing PartnerCorporate membership partnership offering 25% off NC Zoo memberships to Coastal members using code coastal25.
• Love My Credit Union RewardsminorGTM or Marketing PartnerNational credit union rewards program offering discounts on TurboTax, H&R Block, movie tickets, theme parks, online shopping, and other merchant offers.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Alliant Credit Union: Large digital-first US credit union (Chicago-based) competing nationally for online deposit and lending customers. Comparable product set (high-yield savings, competitive CDs, mortgages) but no branch network — a model Coastal may need to benchmark against as member behavior shifts digital.
• PenFed Credit Union: One of the largest US credit unions with national digital reach and a similar full product suite (mortgages, auto, credit cards, savings). Comparable in member-owned structure and product breadth but at materially greater scale, setting a competitive benchmark for digital product capability.

Broad incumbents

• Truist Financial: Top-3 NC-headquartered bank and direct competitor for Triangle deposits, mortgages, and small-business banking. Significant larger scale and digital capability create both competitive pressure and partnership potential for Coastal's product gaps.
• First Citizens BancShares: North Carolina-headquartered publicly traded bank with the largest NC deposit franchise and full commercial/consumer banking. Competitor for the same Triangle-area members and business banking clients, with broader product capability and capital-markets access.

Direct peers

• Self-Help Credit Union: NC-based credit union serving members across the Carolinas and beyond with consumer and mortgage lending. Comparable in geographic focus and cooperative mission, with overlapping Triangle-area footprint and similar member-base profile.
• State Employees' Credit Union (SECU): The largest credit union in North Carolina, also member-owned and headquartered in Raleigh. Directly comparable cooperative model, NC deposit base, and full suite of consumer/business banking and lending — the most natural direct competitor for Coastal within the state.
• Local Government Federal Credit Union (LGFCU): NC-based credit union with comparable cooperative structure and full-service consumer and business banking. Operates in the same regulatory and competitive environment, with significant overlap in branch geography and target member segments.
• Allegacy Federal Credit Union: NC-headquartered credit union serving the Piedmont Triad region with comparable deposit, lending, and digital banking products. Direct competitor for Triangle-adjacent markets and similar member-owned value proposition.
• Truliant Federal Credit Union: Carolinas-based credit union with comparable member-owned model, branch network, and consumer/business banking product suite. Operates across NC and surrounding states with similar product breadth including mortgages, auto loans, and wealth services.

Regional players

• Vystar Credit Union: Jacksonville, Florida-headquartered credit union with a comparable Southeast US regional footprint, member-owned model, and full consumer/business banking product suite. Useful regional peer for Southeast cooperative credit-union benchmarks, though it does not directly compete in Coastal's NC Triangle market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/coastal24
• YouTubeyoutube.com/user/coastal24tv
• Facebookfacebook.com/coastal24
• LinkedInlinkedin.com/company/coastal24
• Instagraminstagram.com/coastal24

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coastal Federal Credit Union