RALEIGH, N.C. – Chuck Purvis, the president/CEO of Coastal Credit Union here, has been named the 2016 Businessperson of the Year by the Triangle Business Journal.
The award recognizes Purvis’ business accomplishments and positive impact on the greater Triangle community.
Among the reasons cited by the publication for selecting Purvis for the award: his own drive and determination, management style and commitment to employee engagement, along with Coastal's successful loan growth, increased public visibility and community involvement.
"I was surprised and humbled by the award, and words could never express how truly appreciative I am,” said Purvis, “While it's a tremendous honor to be personally recognized, I'm delighted to share this spotlight with my incredible co-workers and volunteers who make Coastal's success possible."
According to the Triangle Business Journal, Purvis, who joined Coastal in 2001 and who was named CEO in 2012, is known throughout the industry for innovation, financial discipline, high performance and versatility.
“His commitment to the financial health of members, employees and the greater Triangle community is exemplified in Coastal’s philosophy of ‘We Share,’” the publication said. “As CEO of a financial institution, the honor for Purvis is particularly noteworthy in a year when large banks faced scrutiny around questionable practices that harmed consumers.
The Business Journal highlighted the work done by the Coastal Credit Union Foundation, which focuses on helping the financially vulnerable, increasing financial literacy and alleviating food insecurity by supporting local non-profits. Each time members use their debit or credit card, Coastal donates a penny to the Foundation. This has added up to more than $275,000 a year for community organizations. From Small Business Saturday through Giving Tuesday this year, Coastal doubled these donations to provide extra support for local non-profits. In addition, Coastal is a mortgage lending partner to Habitat for Humanity of Wake County, providing $3 million in low interest loans that will ensure that 30 more families find housing, the publication noted.
The Business Journal also said that Coastal's “We Share” philosophy includes not only the community, but also focuses on employees and members, and it pointed to a decision by Coastal to establish a minimum wage of $12.50 per hour for all Coastal employees.
The credit union has also been named among the “Best Places to Work in the Triangle for 2016” by the Triangle Business Journal.
“This year's actions are indicative of Purvis’ dynamic leadership in a career spanning more than 34 years in the credit union industry,” the publication said. “He is regarded as a visionary in the role of technology in financial services. Purvis was a co-inventor of the Personal Teller Machine (PTM) technology that improved the efficiency of branch teller services and has allowed Coastal to operate 24 branches with teller service from 7 a.m. to 7 p.m., seven days a week.”