Coastal CU Brings in Tyler Grodi as New CEO

The board of directors at the Raleigh, N.C.-based Coastal Credit Union announced Monday that they’ve selected Tyler Grodi to become the next president/CEO of the $4.5 billion credit union.

As of April 1, Grodi will replace Coastal’s 11-year leader Chuck Purvis, who will retire at the end of March.

“The board is excited to have Tyler join Coastal,” Joan Nelson, Coastal’s board chair, said. “Our search began with a slate of wonderfully diverse and accomplished candidates. In the end, we found a leader with the experience and proven track record that will be the key to our success, and one who offers an inspirational vision for Coastal that both respects where we are today, and outlines a path forward that values our employees, our members and our community.”

Grodi will join the Coastal family after serving 11 years as CEO at the Baton Rouge, La.-based EFCU Financial ($898 million in assets, 60,825 members).

In a statement, Grodi said, “I’m humbled and honored by the opportunity to work with such an incredible team and board. Together, we’ll build upon Coastal’s reputation and foundation of strength, technology and member experience. I’m looking forward to becoming a part of the Coastal family, delivering financial well-being to our members and being a good neighbor to our community.”

Prior to his time at EFCU Financial, Grodi was CFO at Black Hills Federal Credit Union in Rapid City, S.D. In all, Grodi has been involved in the credit union industry for 23 years.

Coastal’s board of directors hired D. Hilton Associates, Inc. to conduct the executive search.