A Credit Union is a not-for-profit financial institution run for the benefit of its members. Credit Unions are member owned. Most of the earnings of a credit union, after expenses and reserves, are returned to members in the form of high dividends on savings, low cost loans and low cost services.

Another Credit Union difference is the volunteers who give time and talent to assure the success of our people-helping-people business. The credit union benefits from volunteers having experience, background, and diversity reflecting the whole membership. Volunteer skills also contribute to the traditionally low operating costs of credit unions, compared with banks and other for-profit financial institutions.

The board of directors of the credit union serves without pay. These dedicated volunteers bring decades of personal and professional experience to their deliberations in the policy-making body of the credit union-experience that often is beyond monetary price.

The same is true of the many members who serve on committees controlling the records and safeguards, credit policies, personnel and other important facets of the credit union’s operation.

Credit union volunteers prove in practice the credit union principle that, working together, people can achieve a better way of life for all.

Coastal Community Federal Credit Union’s (formerly City of Galveston FCU)


2022 – 2023 Coastal Community Federal Credit Union Officials

  • Gilbert Robinson


  • Michael Varela, Sr.


  • Denise Kraus


  • Danny Allen


  • Kevin Matthews

    Assistant Treasurer

  • Sheila Brown

    Investment Officer


What is the purpose of a credit union?

The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?

Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.