RALEIGH, N.C. – On Friday, Coastal Federal Credit Union, North Carolina’s 8th largest financial institution, will commemorate its 40th Anniversary. The milestone will be celebrated with in-branch activities that day, and highlighted in the company’s marketing and member communications through the remainder of 2007.
The credit union was chartered on August 31, 1967 by employees of IBM as the IBM Raleigh Employees Federal Credit Union, and later became known as the IBM Coastal Employees Federal Credit Union as membership grew to include employees throughout North Carolina, South Carolina and most of Virginia. In 1991, the credit union’s field of membership began to expand to include other businesses and associations, and the name was shortened to Coastal Federal Credit Union.
Since then, Coastal has grown to become an industry leader. Fueled by a membership comprised of several of Research Triangle Park’s high-tech companies, Coastal was among the first financial institutions in the world to provide online banking, and has been at the forefront of the industry in terms of developing and incorporating new technology into its branches and services.
Today, with more than $1.7 billion in assets; 164,000 members; 1,100 participating employers and associations; and more than 420 employees, it is the second largest credit union in the Carolinas. Coastal’s presence has grown to include 22 branches in 7 counties across the state, along with providing members with 24-hour online and telephone banking, and access to 58,000 surcharge-free ATMs and 2,700 credit union service centers nationwide.
“Through four decades of solid growth, we’ve seen an incredible amount of change here at Coastal, and throughout the industry,” says President & CEO, Larry Wilson. ” However, one thing that has remained constant is our dedication to providing members with all of the services they need, in an affordable, convenient and professional manner. We’re a not-for-profit financial cooperative, and while we’ve grown to become one of the 50 largest in the U.S., we’ve remained true to our core value, fostering the credit union philosophy of ‘people helping people’. Because of that we always have, and will continue to, focus on serving members of modest means.”
Read More:CarolinaNewsWire
April 19th, 2008 at 2:29 pm
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