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WRAL SmartShopper

Coastal Federal Credit Union paying debit users MORE to swipe!

Posted September 30, 2011

As some banks are beginning to charge customers for using their debit cards, Coastal Federal Credit Union is actually offering a higher dividend rate for using their debit card! I just received a press release from Coastal about the benefit which indicates:

"Starting October 1, 2011, members can qualify for a new Premium Go Green Checking Tier. The new tier rewards members with a premium dividend of 2.51% APY when 30 or more debit transactions are posted to their account each month." The tier below is 1.01% rate with 12 debit card transactions. For more information on the new benefit, click HERE.

In addition, Willard Ross, SVP/Chief Retail Officer, says, "The most important thing is, members are asking when we’ll make a decision to charge a fee. We’ve decided. As long as there are no further, major changes to debit card revenue, we aren’t going to add a monthly fee.”

Good for you, Coastal!

 


 

18 Comments

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  • pawkard Oct 4, 2011

    If anyone has any specific questions, please feel free to call the business development team at 919-882-6799 or visit one of our local branches. We are more than happy to help. Feel free to also go to www.coastal24.com for more information.

  • Oxymoron02 Oct 1, 2011

    Coastal is awesome, mostly. The one thing I dislike, and it's just a personal thing, is there electronic tellers. They want you to put your ID down on a scanner, which is fine, but my husband is scatterbrained enough to forget it there pretty regularly. They do usually remind you, once they've captured the image, to pick it up, but he's still managed to leave it behind at the branch more than once.

    Other than that, they're pretty awesome, but I've always preferred small local banks and credit unions to large banks.

  • jfmecca Oct 1, 2011

    @etrudeau: you can run your card through as debit or credit. It just has to be the debit card attached to your checking account to qualify.

  • mikke114 Sep 30, 2011

    That's a great question on if you have to process the card as debit at the register instead of credit, I don't like entering my pin in stores - too many eyes.

  • twinredheads Sep 30, 2011

    I opened a business checking account with CFCU two weeks ago. They also make you open a business savings account.

  • ncsugrad02 Sep 30, 2011

    Coastal is GREAT! We have our checking, savings and mortgage with them. The mortgage process was easy and we closed in 30 ays. I would recommend Coastal to anyone!

  • Ms.Manda Sep 30, 2011

    @busyb- CFCU has open membership. They did away with business checking accounts back in early 2010 I believe, though they still work with business loans. Unless they recently changed that policy. I worked there for almost 3 years until very recently. They are great to work with and I still bank with them.

  • krstee Sep 30, 2011

    meant to say -

    woop woop! I love Coastal!!

  • krstee Sep 30, 2011

    woop woop! I

  • jfmecca Sep 30, 2011

    Coastal does have small business checking. It's ideal for small businesses that don't have a lot of transactions every month and don't deal heavily in cash.

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