ATLANTA, June 19, 2012 – Coastal Federal Credit Union of Raleigh, N.C., has joined the STAR® Network, signing a multi-year agreement under which STAR will provide PIN-secured debit point-of-sale (POS) and ATM access to its cardholders.
Coastal serves its 193,000 members through a network of 15 branches and 30 ATMs. STAR is one of the nation’s leading electronic funds transfer (EFT) networks, with more than 2 million retail and ATM locations, and a First Data company. First Data is a global leader in electronic commerce and payment processing.
“With long-standing ties to the communities we serve, Coastal understands the financial needs of our members,” said Chuck Purvis, executive vice president and chief operating officer for Coastal. “We feel that those members will benefit from the innovation that STAR and First Data have consistently demonstrated, with access to the latest technology as the payments industry evolves.”
“STAR’s leadership in debit payments will help drive Coastal’s success, by offering the services its members need to access their funds reliably and securely, whenever and wherever they choose,” said Kevin Barry, general manager for the STAR Network. “Coastal can draw on the depth of STAR’s debit expertise to help them deliver a payments program that strengthens loyalty among their members.”
Terms of the agreement remain confidential.
About Coastal Federal Credit Union
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 $2.1 billion in assets, Coastal serves 193,000 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 4,500 shared branches 50,000 surcharge-free ATMs and a robust offering of online services at www.COASTAL24.com.
The STAR® Network enables consumers to use their ATM / debit cards to obtain cash and make purchases quickly and securely throughout the United States. With a singular focus on real-time debit payment processing for more than 25 years, STAR is committed to driving increased reliability, security, cardholder convenience, and choice wherever and whenever consumers demand access to their money. STAR puts its debit expertise and industry knowledge to use for its clients – which include financial institutions, retailers, processors and billers – delivering innovative services as well as market insights that help them increase the value they derive from their debit programs. For more information, visit www.star.com.
The STAR Network is an integral part of the payment services offered by First Data Corporation. Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Joe Mecca, Coastal Federal Credit Union
Kim Graber, First Data