Coastal community teachers credit union corpus christi

Coastal community teachers credit union corpus christi

In 1935, 50 Corpus Christi Independent School District employees pooled together to start Coastal Community And Teachers Credit Union in the basement of the district's administration building. 

More than 85 years later, the financial institution -- now called CoastLife Credit Union -- has $429 million in assets.

Wednesday, construction started on a new 5,000-square-foot Corpus Christi branch at 6810 Saratoga Boulevard. The branch is expected to open by January. 

The current building at the location will become an administration office. It will still have a drive-through around back and the safe deposit boxes. 

"CoastLife Credit Union recently went through a name change late 2020," said Gina Prince, CEO. "This was due to the future needs of our institution, changing lives."

The credit union is a member-owned financial cooperative that provides banking services, including including savings and loans, to more than 37,000 members across the Coastal Bend.

It has eight locations in the area -- five in Corpus Christi, and one each in Portland, Kingsville and Alice. 

"Through all the economic times, ups and downs, the credit union has remained solid and there for the members," Prince said. "The growth in the credit union comes from the member’s confidence in our institution."

Another new 12,000-square-foot branch is also being built in Portland at Buddy Ganem and Wildcat drives, according to the Texas Department of Licensing and Regulation.

Kathryn Cargo follows business openings and developments while reporting on impacts of the city government’s decisions. See our subscription options and special offers at Caller.com/subscribe. 

More: Here are the top concerns of South Texas businesses during the COVID-19 pandemic

More: Housing market, hotel occupancy uptick offer silver lining in Corpus Christi economy

More: Here's what you need to know about buying or selling a home in the Corpus Christi area

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2302 Church St. Galveston, TX 77550

Coastal community teachers credit union corpus christi

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A credit union is a not-for-profit, not-for-charity, but for service cooperative owned by all of its members. It is organized to promote thrift and provide credit to its members. The directors are volunteers who establish and revise policies and set dividend and loan rates. These volunteers are elected by the membership with each member having one vote. After the required amounts are placed in the credit union reserves, all earnings are returned back to the members in the form of higher dividends and lower loan rates. Service to members is what distinguishes credit unions apart from other financial institutions.

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