Cooperation among cooperatives: Coastal Credit Union and Weaver Street Market partner to provide in-store banking services
RALEIGH, NC (September 25, 2019) — Coastal Credit Union and Weaver Street Market have partnered to provide Coastal’s teller and ATM services in-store at the new downtown Raleigh location. The new Weaver Street Market is located at 404 West Hargett Street, on the ground level of The Dillon in Raleigh’s Warehouse District.
Coastal has installed a personal teller machine near the checkouts at the front of the store. It will offer teller services for credit union members from 7 AM to 7 PM, seven days a week. Members simply use the touch screen to initiate a video session with a Coastal teller, who can perform deposits, withdrawals, check cashing, transfers and more. The dual-function machine will also provide ATM service to the public during store hours (7 AM to 10 PM).
“First, we’re thrilled to see one of our fellow cooperatives succeeding and expanding into Raleigh,” said Chuck Purvis, Coastal’s President and CEO. “One of our fundamental operating principles is to partner with other cooperatives, and this is an awesome opportunity to strengthen our relationship with Weaver Street Market. We’re able to add a great new benefit to their owners, while providing another convenient location for our own members to do their banking.”
This is Coastal’s first downtown Raleigh location, and provides a great opportunity to position standalone teller machines as a micro-branching concept. Weaver Street Market is one of Coastal’s membership groups, and its consumer-owners and worker-owners are both eligible to join the credit union as a benefit of ownership.
About Coastal Credit Union
Coastal 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 $3.25 billion in assets, Coastal serves 267,000 members from 1,700 business partners and is among the leading financial institutions in North Carolina. Coastal operates 23 locations in central North Carolina and serves members in all 50 states through a network of 5,000 shared branches, 80,000 surcharge-free ATMs, mobile banking featuring mobile check deposit, and a robust offering of online services at www.COASTAL24.com. For more Coastal news, visit our online newsroom.