Coastal Community Federal Credit Union Newsletter 4th Quarter 2017


Coastal Community FCU is Member Owned and Member Operated. Take ownership in your Credit Union and be involved in your Annual Meeting. The Annual Meeting Committee, Reverend Lonnie Harris, Kevin Matthews and Gilbert Robinson are working diligently to make our 61st Annual Meeting a great success. Please join us for food, door prizes and fun with your Credit Union Family.

61st Annual Meeting LogoDate:
Monday, March 5, 2018

Old Central Cultural Center
2627 Avenue M
Galveston Island

Registration begins:
6:30 p.m.

Meeting begins:
7:00 p.m.

The Nominating Committee
Reverend Lonnie Harris,
Kevin Matthews and Gilbert Robinson
are presenting the following slate:

Gilbert Arreazola I.L.A. Local 20 – Business Agent
*Sheila Brown Miles Real Estate – Realtor
Kevin Healy Steve’s Warehouse Tires – Owner
*David Holmen Classic Auto Group – Sales Manager
*Sterling Patrick City of Galveston – Director of Grants and Housing Department
*Michael Varela, Sr. City of Galveston – Fire Inspector/Retired Fire Chief
Melissa Kay Winwood Windwood Motor Company – Owner


An important part of this year’s meeting is the election to fill four positions on the Board of Directors. Board Members serve a three year term. Your vote is one of the most significant benefits of membership.

*denotes incumbent


Coastal Community Federal Credit Union is proud to uphold the “people helping people” motto while providing affordable financial services.

Dividend News

4th Quarter Dividend Balance Dividend
Declared by the Board of Directors $5-$2000 .20% APY*
$2,005+ .30% APY*


Financial Update

Nov. 30, 2017 Nov. 30, 2016
Assets $72,728,906 $67,476,122
Loans $51,338,324 $45,655,112
Members Accounts $66,163,318 $61,215,124
Members/Owners 10,587 9,880


The Board of Directors & staff wish you and your family a happy & healthy new year!

Animated desk and computer


This year we are mailing your 2017 tax statement(s) separately for accounts that earned $10 or more interest/dividend. You can also get this information on our website at with home banking, mobile banking and/or CASS, our audio response system. (en espanol)


Money in a jar with IRS on itThere is still time to make your year 2017 Contribution. The IRA Contribution deadline for Tax Year 2017 is April 18th, 2018. For the tax year 2017, you can contribute up to $5,500 of your compensation and up to $6,500 if you are age 50 or older.

All or part of your IRA Contribution may be tax deductible based on your participation in an employer-sponsored retirement plan and/or your income. All earnings on your IRA are tax-deferred until you withdraw the funds from your account is insured up to $250,000 by the NCUA separately from any other shares you have here at CCFCU. Call us today for more information.

Great Ways to Spend an Income Tax Refund

Expecting a substantial income tax refund this year? If so, you are in the majority; over 80 percent of Americans get money back at the end of the tax year, with the average refund being close to $3,100. Rather than having those precious dollars being absorbed into your normal spending routine, get the most out of your cash.

Tax form and calculator

  1. Pay down high interest loans and lines of credit. With average annual interest rates for credit cards and personal loans hovering around fifteen percent, paying off that credit card before making other investment decisions makes good sense.
  2. Fund Your Retirement Account. About 32 percent of all working Americans have no money invested for their retirement. If you are one of them, seriously consider making a contribution to a retirement account right away.
  3. Invest it. Instead of just working for money, let money work for you. If you invested one lump sum of $1,500 in the stock market, over thirty years, assuming a 12 percent return, you’d have $53,924! (of course, do your research first before making any investment decisions and talk to licensed investment professionals)
  4. Open an emergency account. Most Americans don’t have money set aside for those financial emergencies that always seem to happen when there is no cash in the coffer. A large tax refund is a great start for an emergency account. Experts recommend that it should eventually total between three to six months’ worth of essential living expenses.
  5. Pay for repairs. Maintaining expensive possessions now will result in dollars saved tomorrow. Use the money to repair that leaky roof before it develops into a bigger problem; replace those dangerous bald tires with new, safe ones.
  6. Start a personal endowment. Investing in your emotional, physical, intellectual, and career growth is a wise use of money. Whether it’s paying for a gym membership or a cooking class, you’ll feel effects of this type of investment fast.
  7. Make an extra home mortgage payment (or two). Though you won’t feel the benefit immediately, doubling up on a mortgage payment now can save you months of mortgage payments later.
  8. Donate to a charity. Giving back to the community is a wonderful way of supporting a cause that you are passionate about. Even better – in many cases at least a portion of your donation is tax-deductible too.
  9. Open a College Savings Plan for you child. A four-year college eduction can cost upwards of $100,000. Save for your child’s college education with a college saving plan. For the most part, withdrawals are completely tax-free when used for higher education purposes.
  10. Plan a vacation. If you are in a fluid financial position, and can truly afford a bit of luxury, do something you’ve been dreaming of. Money is to be enjoyed as well as earned, saved, and invested. Go ahead. Book the cruise!

Although all the preceding ideas are excellent uses for a lump-sum amount of cash, remember that instead of planning for a refund, it could be more beneficial to come out even. A tax refund is an interest free loan to the government, and money that is not in your pocket every month. If you have been getting a refund back each year, consider changing your withholding exemptions so less tax is withheld from each paycheck. While a tax refund may feel like a gift from Uncle Sam, it’s not – it’s money that you have overpaid on your income taxes. That said, some people use this as a form of savings.

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Board of Directors

Sterling W. Patrick – Chairman
Michael A. Varela, Sr. – Vice-Chairman
Lonnie Harris – Secretary
Kevin Matthews – Treasurer
Gilbert Robinson – Assistant Treasurer/Security Officer
Sheila Brown – Investment Officer
David Holman – Membership Officer

Supervisory Committee

Jose Viernes – Chairman
Martha Diaz
Regina King

Management Team

Carol Purdy Gaylord – President/CEO
Tim Foley – Executive Vice President
Toni Leyva – VP of Lending
Renell Bloom – 69th Street Branch Manager
Keith Richard – LaMarque Branch Manager

Main Offices

2302 Church Street
Galveston, TX 77550
43,000 Allpoint ATMs
(409) 765-6067opens phone dialer
(800) 256-0831opens phone dialer
Fax (409) 765-9853opens phone dialer

Branch Offices

LaMarque Branch
6708 Gulf Freeway
LaMarque, TX 77568
(409) 986-4963opens phone dialer Fax

Stewart Road Branch
6811 Stewart Road
Galveston, TX 77551
(409) 741-9769opens phone dialer Fax

Lobby Hours
Monday – Friday
9:00 am – 5:30 pm

Drive-Thru Hours
Monday – Friday
7:30 am – 6:00 pm
7:00 am – 2:00 pm

Audio Response
(409) 765-7238opens phone dialer
(800) 764-7238opens phone dialer

Holiday Closings…………….

Martin Luther King, Jr.’s Birthday
Monday, January 15th

President’s Day
Monday, February 19th

Good Friday
Friday, March 30th

Home & Mobile Banking C.A.S.S. Debit and Cards and out ATMs are available 24/7

For Galveston County families and individuals with income below $54,000
FREE tax preparations by IRS certified tax preparers,
FREE e-filing for FASTER refunds, FREE direct deposit

Please Bring With You:

  • Valid photo ID – Social Security Cards (or ITIN) for everyone listed on the return
  • Bank routing and account number (for direct deposit)
  • Copy of 2016 tax return, if available
  • All 2017 income information (W-2’s, 1099 forms)
  • Information about educational expenses
  • Information about medical insurance coverages
  • If married, both spouses must be present to sign

Call 409-765-6067 for an appointment

List of logos

EITC more money to help stretch your paycheck

What would you do if you had more money? Stock up on groceries? Fix up the place? Pay down the bills? Money could be waiting for you at the IRS. Some working people will get hundreds, even thousands back when they file their taxes and claim the Earned Income Tax Credit.


  1. Have earned income
  2. Have a valid Social Security number
  3. File as an individual or as married filing jointly
  4. Are generally considered not to be a nonresident alien
  5. Are not a qualifying child of another person
  6. Are not filing Form 2566 or Form 2566-EZ
  7. Have limited investment income


  1. Claiming a child who does not meet the relationship, age, residency, or joint return tests
  2. Filing as single or head of household when married
  3. Under or over reporting income or expenses
  4. Social Security number and last name mismatches

Life's a little easier with eitc

SATURDAY, FEBRUARY 17TH | 10:00am – 1:00pm

Free seminar for anyone interested in home ownership. Learn about grant money available for first time or existing home buyers and disaster home buying incentives. Refreshments and door prizes.

Be Smart, Savvy and Stress-Free in 2018!

You’re just a click away from a powerful resource for getting a handle on your debt. It’s called SavvyMoney Checkup, and it’s a free member resource designed to help you have a clearer understanding of your financial health. With SavvyMoney Checkup, you’ll learn how to pay down your debt, create a personalized budget, monitor your spending, and more. You’ll even get all the resources you need to track your spending and live within your budget.

SavvyMoney Checkup takes you through an anonymous, 15-minute questionnaire to organize your information on income, debt, and expenses. Simply answer a few questions about your income and current debts. In just minutes, you will receive a thorough analysis of your financial situation, including powerful tips by leading financial experts to help you control your debt and build a budget, and start living the life you want to live. You’ll also receive suggestions as to how you can save money at the credit union.

  • Free financial assessment tool
  • Complete the assessment in just a few minutes
  • Absolutely secure and private
  • Receive thorough analysis of your financial situation
  • Obtain tips from leading financial experts
  • Control your debt, build a budget and gain financial freedom

Your privacy will be completely respected since you won’t have to disclose any personal identifying information. Best of all, it is FREE! Go to, click on resources then click on SavvyMoney Checkup. So, if you’re not a financial doctor, get a financial checkup by trying SavvyMoney Checkup. Soon, you’ll be on the road to success!


Decorative Swirl


Thank you Coastal Community Federal Credit Union’s Members for giving us a hand in waving good-bye to hunger and receiving a coupon to skip-a-loan payment or waive a fee for each bag of groceries and/or toiletries you brought to one of our branches. Many of our members brought in bags of groceries expecting nothing in return. Our Members worked hand in hand with Gleanings from the Harvest for Galveston County Food Banks and CHRISTUS – Our Daily Bread to provide support to men, women and children who are homeless. Each year our contributions to Our Daily Bread represent half of the donated food used to provide 2 nutritious meals per day. They are committed to uphold the dignity of each person by providing programs to help break the cycle of homelessness. They not only prepare nutritious meals, they also provide clothing, hygiene articles, haircuts, medical evaluations, and assistance with addictions, occupational therapy, Veteran’s outreach, referrals, education and prayer. Fees include 1 of each: check cashing, NSF, ODP, minimum balance, stop payment, wire transfer & late fee. Coupons expire December 31, 2017.

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Top Left: Deborah Provost, Michele Vargas, and Cynthia Horton. Bottom Left:
Renell Bloom, Caroline Gaspard, Karla Baez, and LaTonya Basquez. We walked the
walk and contributed $434 to the D’feet Breast Cancer Walk at Moody Gardens on
Saturday, October 21st!