Coastal Community Bank got appreciation because of their excellent upper management and opportunities that secure people’s financial needs. Yes, we are talking about this bank because consumers say that the environment of this bank is enjoyable and offers good communication.
Not only that, their product variety is loved by customers. They can easily fit their financial needs with this small but forward-thinking community bank in this region.
Everything in this bank, like managing the account and getting services is quick. There are more things to explore about this bank. Keep reading, we’ve got more information to share with you.
What Is The Coastal Community Bank?
One of the new community banks, Coastal Community Bank started to operate its banking services in 1997. Its headquarters is located in Everett, Washington.
Despite being a new financial institution, this has assets totaling $806 million and deposits totaling $706 million. So, it’s classified as a medium-sized bank. They have superior customer service to offer.
Additionally, to reach their clients within minimum time, they introduced mobile and online banking. That’s how they not only save time for both bank and client but also make the account easy to manage.
Their mobile application got a 4.1 rating out of 5. From the rating, you can understand how user-friendly this app is and its operations as well.
Assets and Liability Status:
Now let’s check out the overall financial status of this bank. It will clear the current state of this bank and the future.
|Particulars||Q1 2021||Q1 2020|
|Assets||$2.03 B||$1.18 B|
|Loans||$1.75 B||$992.3 MM|
|Deposits||$1.68 B||$1.01 B|
|Equity Capital||$154.0 MM||$133.7 MM|
|Loan Loss Allowance||$19.6 MM||$12.9 MM|
|Unbacked Noncurrent Loans||$306.00 K||$74.00 K|
|Real Estate Owned||$0||$0|
Which Types of Product Does It Offer?
Undoubtedly, this bank understands which types of products people need right now for their daily banking. Based on this concept, they enrich their financial product and services, and here they are.
- Community Business Checking
- Commercial Checking
- Commercial Analysis Checking
- Online and Mobile Banking
- Business Debit Card
- Nonprofit Commercial Checking
- Nonprofit Business Checking
- Business Savings Account
- Business Money Market
- Business Certificates of Deposits (CDs)
- Coastal Flexiline
- Business Line of Credit
- Business Term Loans
- Commercial Real Estate Loans
- Small Business Administration & Paycheck Protection Loans
Business Credit Card:
- Treasury Management
- Credit Card Processing
- Remote Deposit Capture
- Compare Our Accounts
- Green Rewards Checking
- Coastal Checking
- Interest Checking
Read More: Why Passumpsic Bank Is One of The Best Banks
- Personal Savings
- Money Market
- Certificates of Deposits (CDs)
- Individual Retirement Accounts (IRAs)
- Home Mortgage Loans
- Home Equity Loans
- Registered Loan Originator
Personal Credit Card:
- Digital Banking
- Surcharge-Free ATMs
- Sending Money With Zelle
- Additional Services
Personal Investment Services:
What Is The Rate of Popular Product of This Bank?
For different types of products, this bank offers competitive rates. So, it’s easy to choose the perfect product as we need it. Here are the rates are given below.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Accounts||0.03% APY||$100|
|Certificates of Deposit||12 Month: 0.70% APY24 Month: 1.06% APY36 Month: 1.16% APY48 Month: 1.26% APY60 Month: 1.36% APY||$500 for all tiers|
|Money Market Accounts||10K tier: 0.06% APY25K tier: 0.09% APY||$5,000$25,000|
|Checking Accounts||0.02% APY||$100|
With several deposit options, this bank offers rates that are not only low but also have a great return. As you see, based on the product, and duration, the rate varies but it’s fair enough compared to the national average.
To manage your money, choose which product and rate fit your needs. Besides, choose a product that ensures a high return. This should be your goal.
Comparison of Popular Accounts of This Bank with Others:
Now, let’s compare how best or worst the rate is if we compare it with others. We are going to compare Reward Checking, Savings, and Money Market and here it is.
|APY||Account Type||How They Compare|
|0.25%||Reward Checking||0.03% – Citi Citi Priority|
|0.03%||Savings||0.50% – CIT Bank Savings Connect|
|0.09%||Money Market||0.51% – Ponce Bank High Yield Money Market|
What Are The Pros and Cons?
After reviewing some services and history, we’ve found lots of positivity in this bank. But in some cases, there is still scope to develop. Let’s see what the best and worst side of this bank is.
- It offers top-rate customer service
- ATM fees refunded
- Less Competitive interest Rate
What About Synctera and Coastal Community Bank?
As we know, Synctrera is already paired with the Coastal Community bank. Because of their digital banking platform, Synctrera is getting more benefits for their operations. The President has clarified why they’ve paired with Synctera.
It’s only for using energy on serving their core market by helping with partner management. The authorities of Synctere believe this is the crucial time to work together. That’s how everyone is going to succeed in specific criteria. It opens the way to be more digital with emerging startups.
Somehow both institutions are opening their hands to enjoy unique advantages. Now they know how to build their relationship better than ever. They’ve come with exciting solutions for the business. Ultimately, such paired activity helps to make a bridge between the bank and the community.
To manage your money and take loans without any issues or questions, Coastal Community Bank could be your ultimate choice. We tried to dig out the negative review about this community bank. But we were surprised.
Every client of this bank is highly satisfied. They said that this bank ensures a friendly banking environment that they wanted all the time. Their service lets them experience better banking. This bank understands how badly we need to manage our accounts. It becomes a solution for us.
Even it becomes great financial assistance that can withstand all the time. Now it’s focused on delivering better services in the fastest way. For your daily banking, you can choose this bank without any hesitation.