I've searched other threads, but nothing in particular jumped out to me as good or bad about Coastal. Any personal experience or opinions with this bank???

What are the trade-offs? Less convenient? Better service? Less fees? Less options?

[RANT]
I'm changing from Walk-all-ova-ya ... Been nickled and dimed to death in the past few years and I'm about to switch. Especially after last week. I deposited a check and it took over a week for them to credit it to my account. Then charge $10 for transferring money from savings to checking to cover a $2 overdraft? Customer service lady was useless.

Banking should be the least of my worries. It should be hassle free. I shouldn't have to call and ask if I can use my money or when my money is ready to use. I mean, they're getting free money. They don't have to work for your money. They just wait for your money to come in and then spend/invest it any way they want. Then when you ask for it, they make you wait and jump through hoops to get it. Of course, I understand they have to protect themselves from scammers, but to do such things to a loyal and consistent customer?
[/RANT]

8/28/2008 11:43:12 AM

i've never had a problem with them and i've had an account there since i was a kid, they also go out of their way to help you in situations such as last year my dad died so my mom was going to have to jump through hoops to change all their banking information over to just her name(it's a much bigger pain in the ass than it should be) and they did everything for her, including making sure that she knew about/got the life insurance policy that they carry on each person(it's like $1500, but still, that's $1500)...so, i have nothing but good things to say about them

8/28/2008 12:13:42 PM

i've been using them for 15 years or so and i haven't experienced any problems.
-there probably are less locations than most other banks, but that hasn't really caused a problem for me
-i have been pleased with service and haven't had a problem
-i currently pay no fees for my checking or savings account
-i'm not sure what you mean by options? sometimes they have pretty good rates on CDs.

let me know if you have any more questions...

8/28/2008 12:14:53 PM

hotcurlz24 has them.

The only downside I can see is that there are like 3 branches in all of Raleigh. She has direct deposit so that is rarely an issue.

Other than that low fees and customer centric policies ftmfw. The only better one is SECU if you have a family member or roomate that has them you can probably get in to that. Otherwise go to Coastal and do not look back.

8/28/2008 12:22:22 PM

I use CFCU. The only negative is the lack of branches (I live in cary and I'm only aware of one branch in the town, although they do have an ATM in the food court of Crabtree Valley Mall). They have a 5% APR on checking accounts right now which is very nice. In addition, they offer credit cards with a very low APR (I got 7.99% APR on my Infinity Visa, and I earn points for my purchases).

If you use Direct Deposit the lack of branches shouldn't be a huge problem - as you can use SECU ATM's 5 times per month with no charge penalty.

Hope this helps.

8/28/2008 12:56:07 PM

Thanks folks. Going to withdrawl a few dollars from walk-all-ova-ya this afternoon and open an account with Coastal.

8/28/2008 1:00:26 PM

^^ they have 2 branches in Cary. One at Waverly Place and another off of Harrison. Good bank to deal with.

8/28/2008 1:08:23 PM

^^haha, i gotta use that sometime

[Edited on August 28, 2008 at 1:12 PM. Reason : walk all ova ya]

8/28/2008 1:12:05 PM

actually they have 3. well, the third is at high house and davis if that is still cary

8/28/2008 4:51:54 PM

I switched from Wachovia to CFCU about 6 or 7 years ago. Great bank. Very little nonsense by comparison to Wachovia's bullshit.

They hardly charge any fees. If you use another company's ATM CFCU does not charge you. I think Wachovia charged me $3 or something ridiculous. This means that all Cashpoints ATMs are a totally free transaction.

When I overdraft on my checking it pulls money in from savings and they charge me a $1 fee. Actually, most of the fees I have received (having cashier's checks drawn, etc.) have all been $1. Not bad IMO.

I did have one issue that totally pissed me off and made me consider dropping them. I was buying a Jeep which I planned to finance through them until I could move some money around. I got approved for the loan, gave them the VIN of the Jeep, they pulled a Carfax, etc. For some damn reason they came back at the last minute and told me they had to inspect the Jeep before they would cut the owner a check for it. Long story short, I was getting a good deal on the Jeep from a guy in Wilson. He owned a very successful business and was working 80 hour weeks. There was no way he was driving it up here (during banking hours) for my bank to see it in person. I bitched up and down, but they wouldn't give me any reason that I considered satisfactory. I ended up just paying cash for it, but I would have been screwed if I didn't have enough money in savings to do it. That has always left a little bit of a sore spot for me.

[Edited on August 28, 2008 at 5:23 PM. Reason : l]

8/28/2008 5:21:56 PM

They're great. I switched over to them last summer from RBC Centura.


I have had zero problems with them, and their staff is the most friendly and helpful group - they don't treat you like they're doing you a favor for anything (something I experienced a few times with RBC).

8/28/2008 5:59:44 PM

I've had them for over 8 years now and the only complaint is that there's not alot of locations, but I've always managed to live close enough to one, so no big deal. Like other people said, the good things are no fees, and the good customer service. Also, don't you have to be referred to be a member?

8/28/2008 6:19:43 PM

I've banked with them for 10+ years and I've never had a single problem with them. I never understood why all my friends hated their banks, until I realized how good CFCU is.

8/28/2008 6:51:36 PM

Yeah, I work for a company that is on their "preferred members list". So, supposedly I can join. I tried to get there on time after work tonight, but by the time I got there, they were closed. I'll have to do it tomorrow or when I get back from Labor Day weekend.

8/28/2008 7:04:20 PM

Never had a problem with them. As other people have mentioned, sometimes its hard to get to a branch, but MOST of the things you can do on the phone. Got my first credit card from them with a great fixed rate, 7.99% or something like someone else posted with no credit (just a basic student card).

I think all the times I've stepped foot or called them they have been very nice - both the people at the desk and the tellers. I don't pay a dime for my savings or checking.

8/28/2008 9:09:51 PM

I've been with them ~8 years and have not had any problems. You could say they're less convenient simply because it's not a mega-bank, but they have enough locations if you only need to deal with them around here.

[Edited on August 28, 2008 at 9:15 PM. Reason : .]

8/28/2008 9:15:21 PM

been with em for about 15 years. they were good while I was in NC. i still have my mortgage through them cause they did 100% financing at a good rate a couple years ago. otherwise, I don't use them at all, use BOA instead because I'm in SC

8/28/2008 10:30:53 PM

I didn't read most of this, but I'm pretty sure my account with Coastal went into the negative because I didn't use it. Seriously? What kind of account you set up when you're a little kid penalizes you for not using it. I'm glad I only had like $15 in there and I use SECU now.

8/29/2008 2:35:22 AM

^ I set up an account when I was a kid with a credit union in CA. We moved and I had a sizeable savings account going on but just let it sit with that credit union. After a few years I received a letter saying that if I didn't have any activity in the next 30 days they were going to take away my money and it would go to the state

8/29/2008 6:18:12 AM

Wachovia sent me one of those letters so I bought some Starburst with my debit card.

8/29/2008 8:58:18 AM

Quote :

"I did have one issue that totally pissed me off and made me consider dropping them. I was buying a Jeep which I planned to finance through them until I could move some money around. I got approved for the loan, gave them the VIN of the Jeep, they pulled a Carfax, etc. For some damn reason they came back at the last minute and told me they had to inspect the Jeep before they would cut the owner a check for it. Long story short, I was getting a good deal on the Jeep from a guy in Wilson. He owned a very successful business and was working 80 hour weeks. There was no way he was driving it up here (during banking hours) for my bank to see it in person. I bitched up and down, but they wouldn't give me any reason that I considered satisfactory. I ended up just paying cash for it, but I would have been screwed if I didn't have enough money in savings to do it. That has always left a little bit of a sore spot for me."

They're just being very thorough about trying to protect their loan investment is all, I don't see what's so hard to understand about it. SECU made me do the same thing.

8/29/2008 10:54:09 AM

Yeah I mean if they did not do that you could get the title and vin number off a totaled car that you were "buying" and sandbag them for the money. Then if it went to collection there would be no car to reposes.

8/29/2008 11:03:35 AM

^^ I have sold two cars for $14k+ in the last year and a half (one of them being that Jeep). Neither of the buyers had to deal with any of that bullshit. Both of them applied for a loan and brought me a check.

In addition, I had already taken out a personal loan for $6k with them which had been paid in full and I had more money in savings (with them) than the cost of the Jeep. I had perfect credit and I had paid off my previous car a year early without ever missing a payment.

I don't see the risk and this was something that they literally sprung on me at the last minute.

When I decided to make a move I need a bank that can support me and move quickly. They could have ruined my deal if I didn't have other alternatives. Fuck that.

[Edited on August 29, 2008 at 11:14 AM. Reason : l]

8/29/2008 11:11:38 AM

Quote :

"The only better one is SECU if you have a family member or roomate that has them you can probably get in to that. Otherwise go to Coastal and do not look back."

how do you sign up through a roommate?

8/29/2008 3:21:01 PM

Show a utility bill saying that you both live at the same address.

8/29/2008 11:01:01 PM

http://www.ncsecu.org/AboutSECU/MembershipEligibility.html

I mean you can bullshit through that red tape pretty easy if you are determined enough.

8/29/2008 11:12:57 PM

You really can. That was one of the most annoying things about when I worked there.

8/29/2008 11:42:21 PM

Quote :

"persons living in the same residence maintaining a single economic unit with a member, and organizations of such persons"

That sounds like a qualifier. So basically SECU member shows utility bill in his name and I show my NCDL with the same address? Since he's on his parents will I then be some how attached to his parents as well? Would it be something they could get upset about?

8/30/2008 11:18:27 AM

No

8/30/2008 12:11:07 PM

I called and they said a college roommate wouldn't work. It would have to be functioning as one economic unit. IE your fiance. I don't have any female roommates and I'm not pulling some chuck/larry bullshit to get a SECU account.

9/5/2008 11:03:42 AM

This "GO GREEN" checking is pretty dank. 5.01% APY. I moved all my the cash I had in a low yield savings account into this checking account yesterday.

http://www.coastalfcu.org/gogreen/index.htm

[Edited on September 5, 2008 at 11:06 AM. Reason : L]

9/5/2008 11:05:49 AM

i love my CFCU acct

9/5/2008 6:23:08 PM

I have State Employees that I got through working in the NC State Craft Center woodworking shop and RA'ing.

Credit union advantages:
low overdraft fees (50 cents?), superior customer service (helped me out when I lost my card, no hassle, like 10 bucks to replace), better return on savings, good advice on credit card stuff (they told me straight up what I could expect if I got one), and I hear better deals on home equity loans and stuff (can someone provide input on this?)
better bank hours (open till 5:30!), all over the place if you live in Raleigh

Disadvantages:
lack of locations in Durham (the nearest ATM is Northgate Mall to me, which is annoying, other is S. Duke St.), sending me letters when I overdraft my savings (like you couldn't email me instead of wasting the paper?)

9/5/2008 6:59:41 PM

<---- SECU/LGFCU Member

9/5/2008 7:28:16 PM

I joined CFCU when I was with IBM, I dont use them for my primary banking, but they have been helpful with the accounts I have with them

9/6/2008 5:35:08 PM

^^^A lot of the operations at SECU are old school. Tack it up to the vocal majority of the members being senior citizens. Things there are slowly starting to change though. I wouldn't be surprised to see an option for all correspondence between the institution and it's members being offered completely through email within the next few years.

[Edited on September 6, 2008 at 7:36 PM. Reason : asdf]

9/6/2008 7:36:28 PM

Quote :

"superior customer service (helped me out when I lost my card, no hassle, like 10 bucks to replace)"

Thats actually piss poor customer service in my opinion. Major banks will replace your card for free. I've gone through several with BoA. When one of my SECU cards broke in half they wanted me to pay $10 to replace it. I told them to forget it. The online updating with SECU is so slow on plastic transactions I don't use them for anything but my savings. They've always been nice enough & I take advantage of them for numerous things I just don't see any reason to keep my primary checking account with them.

9/6/2008 11:07:59 PM

A damaged or stolen card should be replaced free of charge. If you lose it, they charge you $8. It's a posted policy, not really part of the whole 'member' service.

9/7/2008 1:10:03 AM

Quote :

"The online updating with SECU is so slow on plastic transactions I don't use them for anything but my savings."

i didn't know it was still that slow. it's infuriatingly slow at times.

9/7/2008 10:56:15 AM

CFCU does not charge me for replacement cards.

9/7/2008 12:36:24 PM

I have CFCU and made a large purchase on my debit card the other day. Sure enough I got a phone call from them to verify it was me that made the purchase. It was kind of reassuring to know they are doing a good job checking up on me.

9/7/2008 8:35:45 PM

Quote :

"Overdraft outrage: You weigh in Infuriated readers had a lot to say about overdraft fees -especially the way they're calculated. NEW YORK (CNNMoney.com) -- Danial Roy had about $30 left in his checking account when he made two small charges of less than $5 each. But when he then wrote a check for $435, he was hit with not one, but three overdraft fees of $35 each. The bank refused to waive any of the fees, despite his requests, he said. "I have given up trying to fight them on this." Commerce Bank of Kansas City, where Roy holds his account, declined to comment. You incur overdraft fees when a bank approves a transaction even though you don't have enough money in your account to cover it. The bank is basically charging you a flat fee for a temporary loan - usually between $25 and $35 - regardless of how much the overdraft was. Even a few pennies over your balance are enough to trigger the fees. That's the topic I addressed in a recent Raw Deal column. And, a lot of you, like Roy, responded with your own painful experiences, particularly about a specific bank practice that increases the likelihood of multiple overdraft fees. Raw Deal: Overdraft protection Many readers learned the hard way that, according to bank policy, checks or charges are debited in an order determined by the bank rather than the order in which you made them - so banks generally debit the largest pending transaction first. If that transaction overdraws the account, any other smaller transactions you made will result in overdrafts as well, even if they predated the larger one. And while the banks say they are providing a service to consumers, some consumer advocacy groups say they're hitting the very people that can least afford it. "The large majority of overdraft fees are paid by a core group of consumers," said Rebecca Borné, policy counsel with the Center for Responsible Lending, "members of the population that are more vulnerable and less able to bounce back." Readers talk back Like Danial Roy, readers from all over the country wrote about their experiences with overdraft fees, some that resulted in hundreds of dollars in fees. College student Miguel Carreon, for example, wrote in to tell us how he recently made eight payments (including charges as small as 99 cents) over the course of one weekend, which left him with overdraft charges totaling $264. "If they had cleared all the smaller checks first, I would only be paying $33," he said. Comments from both parents and young adults showed that students, many of whom lack both the financial savvy to manage their accounts carefully and the funds to cover large fees, are hit particularly hard. Amber in Raleigh, N.C. wrote in our talkback blog: "When I was 20, I balanced my checkbook wrong. One day I saw that I was $764 negative in my account. $704 of that was all from overdraft fees. $704!!!" Bob Garrett expressed his outrage in an e-mail. "It's offensive to me to have a practice where you can spend a penny over your limit in reality, but be charged with several overdraft fees because the bank re-arranges the order of the transactions. It clearly targets those with the least means." Banks respond Banks say this is a standard practice that is meant to help, rather than hurt, banking customers. "We process checks and other debits starting with the largest amounts. That way, important, large bills such as mortgages, rent and car payments will be paid first," explained Tom Kelly, a spokesman for Chase. Bank of America takes a similar position. "Often times, a customer's largest transactions are those most important to their lives - e.g. mortgage or rent, car payments, insurance premiums or tuition," Diane Wagner, a spokeswoman for BofA, said in an e-mail. "Our posting order helps to prioritize a customer's transactions and helps keep them from defaulting on their more important transactions," Wagner said. Opting out But many banking customers say "thanks but no thanks." They didn't ask for overdraft protection and would rather their transactions be refused at the point of sale if they don't have the money to cover them, rather than go into debt on an account that's already in the red. Several banks including Wachovia and US Bank, told CNNMoney.com that they allow their customers to refuse overdraft protection if they call and ask. But opting out can be easier said than done, say some readers. Lynn from Syracuse, N.Y. writes on our blog: "We tried to opt out of this 'convenience' and they would not allow it. That is the fact I find disturbing." Many readers said that their overdraft fee problems went away when they moved their money over to the local credit union. "This is one of the reasons I have stopped doing business with banks. All of my accounts are in credit unions," posts Hunter in Brunswick, Maine. "I have found you get better service and very low or no fees on most of the things banks charge big bucks for." The American Bankers Association also encourages disgruntled customers to switch banks. ABA spokeswoman Carol Kaplan said in an e-mail: "There is no stronger way to let your bank know how you feel about their policies than by withdrawing your money and taking it to a competitor with a different policy."

9/7/2008 10:55:46 PM

I have never once had a problem with overdraft fees. BB&T credited at least three of them for me back in highschool and First Citizens has done two with no hassle because of small balancing errors. I ask them all the time to tie my savings to my checking for overdraft protection, but they don't offer it.

And of course INGDirect only charges you 6% or something.

9/8/2008 9:06:56 PM

I actually got my Coastal account when I bought my Mazda in Dec '03 from Capital Mazda as tehy serviced the loan. For a new car, the rate was decent without being a financing deal through the dealer.

I have never had an issue with Colts. If on rare occasion I go to login and it is blocked dueto maintenace, it is always back when they say it should be.

I have only had Savings. Aug '04, wifey and I bought our house in SC, and they provided the mortgage. I was pleased with the ease and timeliness of everything. I was impressed they did so much from Raleigh without fussing about the house being 3.5 hours away. Rate was ok, closing costs were on the lower side, but everything was very easy and organized. My mom just got a mortgage from BoA, and she had a hell of a time with everything, and she is close friends with her branch's vp.

They were extremely prompt in sending the title when the car was paid off. They contact us for clarification when we changed our homeowners insurance (I guess they get the cancellation notice before the new policy notice). But other than that, I never need to talk to them.

We transfer the monthly balance to HSBC, but given the 5+% green acct, I might start a checking account there, too.

[edit]

Colts is kind of slow to update. Direct Deposits show really quick, but updates to the mortgage total is always a day or two to update.

[Edited on September 9, 2008 at 1:12 PM. Reason : .]

9/9/2008 1:11:04 PM

went the other day and ended up changing to a "Go Green" checking account. I mean 5% interest on your checking and everything is free? Why not right?

9/10/2008 3:29:53 AM

The 5% interest checking account is pretty tempting, but what about identity theft? If someone steals the card, how much am I liable for?

10/4/2008 6:15:51 PM

i would imagine that the good folks at CFCU could answer that with a lot more certainty than TWW. pickup the phone on Monday and call them.

its probably just like most other checking accounts out there. you're liable for purchases until you tell them your identity/check card is stolen

10/4/2008 11:27:54 PM

Quote :

"Banks say this is a standard practice that is meant to help, rather than hurt, banking customers"

riiight

10/5/2008 12:03:59 AM

^^^the lady i talked to when i switched over said that everything is the same except the interest rate, and you have to use your card 12 times in the month for that to be effective. otherwise the 1% interest rate will be used. i definitely use my card 12 times a month so instead of getting less than a dollar interest im getting 10-15 dollars

10/5/2008 11:48:14 AM

My fiancee and I went to CFCU after reading this thread and hearing about it from a friend -- I have to say that I am a bit irked with our account thus far.


1: NCSU students aren't eligible to be members, but UNC students are? Thankfully my fiancee is a student in their law program. Thus I am not considered a "member" and cannot change anything on the account.

2: Took 11 days for us to get our debit cards. She calls and activates hers just fine, I call to active mine and the system puts up a fuss saying I can't do it, even though I've triple-checked that I'm entering in all the correct information. 11 days was a long time to wait after transferring most of our money from other accounts into this one and then when I receive my card, I can't even use it? Oh, and our PIN numbers still haven't arrived yet so we have to use them as credit cards and sign receipts until they show up... Honestly that last part is really just an annoyance, but still...

3: We still haven't received our checks in the mail yet. I can't remember the exact day we went to set up our account, but the initial deposit we put in is showing up as October 14 -- almost 2 weeks ago.



[Edited on October 27, 2008 at 7:44 AM. Reason : ]

10/27/2008 7:40:46 AM