Coastal1 Credit Union

Overview

Mission

Coastal1 credit union is a cooperative financial institution organized as a credit union for the benefit of its members. The credit union is committed to serving the financial needs of its members to help them attain their financial goals.

What it reported doing in 2024

The credit union is dedicated to serving its members. The credit union had loans totaling $2,892,252,621 due from members and member deposit accounts totaling $2,552,115,510 at december 31, 2024. In addition, safe deposit fees of $119,419 were received from members for rentals in 2024.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

Nonprofit profile at a glance

EIN
050197075
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Pawtucket, RI, USA
Rating confidence
Limited

Official website

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The verdict

- This form does not report enough financial and governance detail to rate the organization. That is normal for this form and is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 84
  • Accountability: 42
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 89.3%; rating input score 89; 21st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited
  • Public monitoring controls: Limited
  • Public policy transparency: Limited
  • Public financial transparency: Limited
  • Impact reporting controls: Limited
  • Public relationship transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
  • Public governance controls: Limited
  • Zakat policy transparency: Limited

Sustainability

  • Operating margin: 5.5%; rating input score 58; 58th percentile among comparable filings
  • Operating reserve ratio: 22.42; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.9% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $769K · 22 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Money network: 33 filed money-flow records
  • Related organizations: 5 filed related-organization links