Coastal Pays Members More to Use Debit Card
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- Created on Friday, 30 September 2011 16:24
- Last Updated on Friday, 30 September 2011 14:51
- Written by Lauren Stranch
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Renews Commitment to No Monthly Fees
RALEIGH, N.C. (September 30, 2011) – At a time when financial institutions are turning their “free checking” into “fee checking,” Coastal Federal Credit Union remains committed to provide members Go Green Checking with no monthly fees. In fact, Coastal will implement an even higher dividend rate to members for just using their debit card.
Earlier this month, Coastal announced that 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 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.” said Willard Ross, SVP/Chief Retail Officer.
Go Green Checking Rate Tiers
| Premium | Standard | Base | |
| 30 Debit Transactions / Month | 2.51% APY | ||
| 12 Debit Transactions / Month | 1.01% APY | ||
| Less than 12 Debit Transactions / Month | .10% APY | ||
| Balances above $50,000 | .10% APY |
Coastal Federal Credit Union is a not-for-profit, member-owned, financial cooperative, offering a full range of financial products and services. Coastal was chartered on August 31, 1967 with the mission of fostering the credit union philosophy of “people helping people”. Today, with $1.96 billion in assets, Coastal serves 190,000 members from 1,200 business partners and is among the leading financial institutions in North Carolina. Coastal operates 15 branches in the Triangle market and serves members in all 50 states through a network of 3,500 shared branches 50,000 surcharge-free ATMs and a robust offering of online services at www.COASTAL24.com.
