Coastal's implementation of the PTM system resulted in the credit union being nominated as a Disruptive Innovation Award finalist for the BAI-Finacle Global Innovation Awards. The award distinguishes retail banks around the world for their breakthrough innovation that positively impacts consumers and organizational profitability. Coastal was the only credit union and one of only three U.S. financial institutions to be nominated for the award.
"The final conversion signals the delivery of a promise to provide members with the latest technology for more effective and efficient service. Our members have been very receptive to adopting PTM technology because of its ability to serve them quicker and more conveniently." said Larry Wilson, Coastal's President and CEO.
The full conversion at the North Harrison branch marked the completion of a project that began in December 2008. With all branches fully converted, Coastal has been able to expand service hours by 86% while creating a 40% increase in savings on staffing.
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.