AI-generated summary reviewed by our newsroom.
Local banking institution Coastal Credit Union recently announced to customers that its Crabtree Valley Mall branch will close on Thursday, Dec. 31.
Read more UNC men’s basketball blows past Southern Cal in 2nd half. What stood out
The member-owned financial cooperative decided to not renew the lease for the building, located at 4325 Glenwood Ave, per their Wednesday, Sept. 23 press release. Chartered in 1967, the Raleigh headquartered company operates 17 locations in central North Carolina.
“While this location is closing, the support, guidance and service you count on from Coastal are not going anywhere,” the press release said.
Due to the Crabtree branch’s closing, members are expected to direct any in-person concerns to the surrounding branches around four miles away from the closing location. Creedmoor Road Branch, a nine-minute drive north, and St. Albans Branch Coastal Credit, a nine-minute drive east. Union members can access over 5,600 branches nationwide through the CO-OP Shared Branch network, according to their website.
Read more Wake GOP urges voters to reject all county, local bond referenda, including schools
“By focusing our resources where they can make the greatest impact, we’re able to continue delivering competitive rates, lower fees and better banking experiences,” the press release said.
Credit unions differ from traditional banks in ownership and pay structure. Coastal’s not-for-profit system, owned by members is a shift from larger for-profit banks owned by private investors or public shareholders. Costal Credit Union also offers financial education to help members manage their money, according to their website.
The News & Observer wrote about other changes at Crabtree Valley Mall. DICK’S House of Sport is hosting its grand opening in the former Sears location at the shopping center on Friday, Oct 9. Additionally, Akira, a clothing store is set to open on the mall’s lower level by the end of October.
Read more First Look: Photos of the 2026-27 North Carolina basketball team