Branch History & Mission
Welcome to Coastal1, a credit union with a rich history and a commitment to serving the community of Cumberland, RI. Established in 1926, our branch has grown from humble beginnings into a thriving financial institution that now proudly serves over 140,000 members. Located at 1855 Mendon Rd, we are easily accessible for our members and neighbors, making it convenient to meet your banking needs. Coastal1 has always been more than just a place to manage money; we are dedicated to enhancing the lives of our members and supporting the local community. Our mission is clear: to provide affordable financial services while fostering community growth and well-being. We believe that when our members succeed, the entire community flourishes. Throughout the years, we've achieved significant milestones, including reaching total assets of over $3.35 billion. This achievement speaks not only to our financial health but also to our commitment to responsible management and member-focused service. Our dedication is reflected in our offerings ranging from personal banking options like checking and savings accounts to auto loans and mortgages. In addition to traditional banking services, Coastal1 embraces modern technology. We offer online and mobile banking options that make managing your finances easy and secure. Whether you prefer visiting us in person or using digital tools, we strive to meet your needs effectively. While our headquarters is located in Pawtucket, RI, our Cumberland branch stands out as a hub for local engagement. We take pride in partnering with various organizations for community outreach initiatives aimed at improving the quality of life for all residents. Our operating hours accommodate busy schedules: lobby hours are Monday through Wednesday from 9:00 am to 4:00 pm, with extended hours on Thursdays until 5:00 pm and Fridays until 6:00 pm. Saturday service runs from 9:00 am to 12:00 pm for those who need it. Additionally, we have drive-thru services available for quick transactions. If you ever need assistance or have questions about your account, feel free to reach out at (401) 495-3900. While members can visit us at 1855 Mendon Rd Cumberland Ri 02864, official correspondence should be sent to 1855 Mendon Rd, Cumberland, RI 02864-4439. Join us today at Coastal1 and discover how we can help you achieve your financial goals while supporting the community you love. Together, let's build a brighter future!
Financial Strength
At Coastal1, financial security is not just a goal it's a promise. Our members count on us for stability, and we take that responsibility seriously. We are proud to share our strong financial position, which reassures our members of our reliability and commitment to their financial well-being. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. With a net worth of $342,716,812, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 10.27% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times. Members' savings are secured through $1,245,841,680 in share certificates and $425,772,446 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $20,345,752, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks. With $339,414,636 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity supports your financial goals with $28,499 in used auto loans and $2,903,238,744 in total loans and leases. Our operational efficiency is reflected in our $4,149,278, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 288 full-time employees and 5 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team. Net Shares (Funds available for lending and investments): $6,864,585. Total Share and Deposit Accounts: 223,200, showing a strong and growing member base that trusts us with their finances. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Coastal1 is your trusted partner. Visit us at 1855 Mendon Rd Cumberland Ri 02864 or call (401) 495-3900 to learn more about how we can help you achieve your financial goals.
