American Underground

Coastal Federal Credit Union Teams with American Underground to Share Expertise with Entrepreneurs

Coastal Federal Credit Union Teams with American Underground to Share Expertise with Entrepreneurs

“Startup Capital of the South” Welcomes Programming, Conference Room, Office Hours and “Family Feel” from A Leader in Financial Technologies

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(Durham) – October 13, 2015 – Coastal Federal Credit Union has signed on to boost the fast growing American Underground startup ecosystem by providing programming, offering insights to entrepreneurs during regular office hours and sponsoring a community conference room.

 

The American Underground — a Google for Entrepreneurs Tech Hub dubbed the “startup capital of the south” by CNBC —  is home to more than 220 companies and 900 employees.

 

“We’re a family devoted to innovation at the American Underground, and that makes Coastal a perfect partner,” says Adam Klein, the startup hub’s chief strategist. “It’s clear that Coastal very much wants to get to know these entrepreneurs, understand their needs and actively help them find solutions and, ultimately, success.”

 

The entrepreneurial spirit runs deep at Coastal. From online banking to Personal Teller Machines (PTMs), Coastal has a rich history of developing and implementing leading-edge banking technologies to ensure faster service, better security, a unique experience and excellent customer service.

 

And that spirit goes back decades. Coastal was founded in 1967 by employees of International Business Machines Corporation (IBM) to serve the Triangle’s IBM community. That community famously helped launch the region to world renown as a tech capital — leading right up to the founding of the American Underground in 2010.

 

Says Coastal’s Vice President of Branch Networks and Community Engagement Creighton Blackwell, “Aligning Coastal with American Underground is a natural fit. We understand the power of innovation, and have harnessed it to revolutionize the banking experience. We also appreciate the power of family, of sharing, of nurturing personal and community growth.”

 

As an American Underground “Founding” partner, Coastal will:

  • Hold office hours twice a month for entrepreneurs to seek guidance on everything from business strategies to personal finance

  • Hold a quarterly “Helpfest” symposium for entrepreneurs

  • Underwrite a conference room for community use

 

The Coastal conference room offers a special take on entrepreneurship, juxtaposing photos of clients at one of the state’s first credit unions in the early 20th century with Coastal’s members today. Says Klein, “The images immerse you in the history of the region’s entrepreneurial scene. They’re a reminder that the startups here today are part of a bigger story, a bigger family.”

 

To speak with members of the Coastal and the American Underground teams, please contact Billy Warden (919.412.0630) or Greg Behr (919.272.5621).

 

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 $2.5 billion in assets, Coastal serves more than 200,000 members from 1,400 business partners and is among the leading financial institutions in North Carolina.  Coastal operates 17 branches in the Triangle market and serves members in all 50 states through a network of 5,000 shared branches, 80,000 surcharge-free ATMs, mobile banking featuring mobile check deposit, and a robust offering of online services at www.COASTAL24.com.

 

About American Underground

The American Underground — one of eight Google for Entrepreneurs tech hubs in North America — launched five years ago in the basement of an old tobacco warehouse at the American Tobacco Historic District. It now encompasses close to 100,000 sq ft of space in three locations in Raleigh and Durham as well as a strategic partnership with open source leader Red Hat to offer an office in Silicon Valley. Founding partners include Coastal Federation Credit Union, the Research Triangle Park Foundation, Durham Chamber of Commerce, Duke University, Fidelity Labs, NC IDEA and Capitol Broadcasting Company.

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