RALEIGH, N.C.—Chuck Purvis, the well-known president and CEO of Coastal Credit Union, has announced plans to retire in March of 2023. The credit union said it has launched a search for a successor.
Coastal noted Purvis was co-inventor of the personal teller machine and oversaw Coastal using the technology to implement 7 a.m. to 7 p.m. teller hours, seven days a week. Coastal later became the first financial institution in the world to rely 100% on video tellers for branch transactions.
Purvis, who has a 40-plus-year career in credit unions, has been with Coastal since 2001 and was named president and CEO in 2012. He has also held positions at U.S. Central CU and the North Carolina CU League.
In 2011, Purvis was instrumental in the formation of the Coastal Credit Union Foundation. He also led to the creation of a new digital services platform that was spun off as Constellation Digital Partners in 2017, the credit union added.
“What’s driven me for 40 years is, make a difference in people’s lives, and leave it better than you found it,” said Purvis. “As I look back, I believe I’m leaving Coastal in a better place. Our success during my tenure has come from having a great team, and great teamwork. The future for Coastal is bright, because our members’ well-being will be in very capable hands.
“I’ve always believed that you don’t retire from something; you retire to something,” he continued. “I have two grandsons, growing up way too fast, and a third on the way. My wife and I want to spend more time with them, see them grow up, and be a positive influence in their lives.”
Oversaw Doubling of Assets
Coastal’s board chair, Joan Nelson, noted that as CEO Purvis has overseen asset growth from $2 billion to nearly $5 billion.
During his career Purvis has served the industry as a past board member of the National Credit Union Foundation, Co-Op Financial Services and Members Development Company.
“While chairing the NCUF board, he created the Community Investment Fund, which continues to help fuel much of the work being done at the national and state foundations,” Coastal CU said. “Most recently, he was among the industry leaders who spearheaded the formation of the FinHealth Fund.”
Many Honors
Purvis has also been recognized as the Triangle Business Journal’s Businessperson of the Year and CEO of the year; CUES Chief Executive of the Year, and as a winner of the Herb Wegner Memorial Award.
“The awards that matter most to me, though, are the more than 20 different best workplaces awards that we’ve earned along the way,” said Purvis. “I’m looking forward to one last year with this amazing team of people, and excited about everything we still have left to accomplish together.”
The search is being handled by D. Hilton Associates.