Coastal Uses Online Tools

Coastal Federal Credit Union said it added more than 1,100 new accounts in six months using a new online account opening and funding solution from uMonitor. The $2.2 billion institution went live with the uOpen and uFund solutions in March, a few months after it began using the Memphis, Tenn., company’s uTransfer solution that has been used by members to deposit more than $12 million from outside institutions, the company and credit union said. “The solutions enable us to offer a variety of services from any location – which is extremely beneficial for our charter that focuses on many international companies,” said Kristopher Kovacs, vice president of e-commerce technology at 195,000-member Coastal. uMonitor said it now has about 125 customers, about half of them credit unions.