Press
Coastal Federal Credit Union introduces Go Green Money Market Account
RALEIGH, NC (February 19, 2015) — Coastal Federal Credit Union has launched a brand new deposit account, Go Green Money Market. This unique product is designed to work in tandem with Coastal’s popular Go Green Checking account. Coastal rewards members with active Go Green Checking accounts by paying a higher yield on both their Go Green Checking and their Go Green Money Market account.
Go Green Checking and Go Green Money Market work together by counting the debit card transactions from the member’s checking account each month. As a member conducts more debit card transactions, they qualify for higher dividend tiers on both accounts.
|
Go Green Debit Card Transactions per Month
|
Rate Tier
|
Go Green Checking
Yield |
Go Green Money Market Yield
|
| 30 or more | Premium |
2.01%
|
0.51%
|
| 12-29 | Standard |
0.51%
|
0.10%
|
| 0-11 | Base |
0.10%
|
0.10%
|
“Go Green Money Market is ideal for consumers who either have reached the $50,000 limit on Go Green Checking, or for those who want to earn a higher rate for using their checking account but prefer to keep their checking and savings balances separate,” said Chuck Purvis, Coastal’s President and CEO.
There is a balance limit of $50,000 on Go Green Checking and $100,000 on Go Green Money Market. Balances over those limits earn the base rate, currently 0.10% APY. Rates are subject to change without notice.
“The combination of these products provides a unique benefit by giving our members the opportunity to earn above-market rates,” added Chief Retail Officer Willard Ross. “We compared local competing checking and money market products, and it’s easy to demonstrate how someone could earn ten times as much in dividends at Coastal.”
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 in 1967 with the mission of “people helping people” and continues to embody a mission, vision and cooperative philosophy that are express succinctly in the brand statement, “We Share”. Today, with $2.4 billion in assets, Coastal serves 198,000 members from 1,400 business partners and is among the leading financial institutions in North Carolina. Coastal operates 16 branches in the Triangle market and serves members in all 50 states through a network of 5,000 shared branches, mobile banking featuring mobile check deposit, and a robust offering of online services at www.COASTAL24.com.