Key Data

• Trading Name: Coast Capital
• Legal Entity: Coast Capital Savings Federal Credit Union
• Activities: Financial Cooperative 
• Location: Surrey, British Columbia, Canada
• Regulations:  regulated by the Financial Consumer Agency of Canada (FCAC) 
• Key People: Calvin MacInnis (CEO)/Frank Leonard (Board Chair)

Coast Capital is a Canadian bank that allows users to buy crypto using various methods including credit and debit cards, wire transfers, and eTransfers. Coast Capital is notable for its innovative approach and willingness to adapt to new technologies​

Offering

Crypto-Friendly Features

Coast Capital allows its customers to engage with cryptocurrencies in several ways:

• Crypto Purchases: Users can buy cryptocurrencies using various methods including credit cards, debit cards, wire transfers, and eTransfers. This flexibility makes it easier for customers to acquire digital assets.
• Innovation and Adaptation: The institution is known for its willingness to adopt new technologies. For example, Coast Capital has implemented the nCino platform, which enhances its digital service offerings, demonstrating a commitment to staying at the forefront of financial innovation​​.

Financial Services

Beyond its crypto-friendly stance, Coast Capital offers a range of traditional banking services:

• Savings and Checking Accounts: Various account options designed to meet the needs of different types of customers.
• Loans and Mortgages: Competitive rates and flexible terms for personal loans, auto loans, and mortgages.
• Investment Services: A variety of investment products, including mutual funds, stocks, and retirement savings plans.
• Insurance Products: Comprehensive insurance options for home, auto, life, and health.

Industries

Coast Capital serves various industries through its financial services, including personal banking, real estate (through mortgages), insurance, and investments.

Regulation

• Regulated by the Financial Consumer Agency of Canada (FCAC)
• Overseen by the Office of the Superintendent of Financial Institutions (OSFI)
• Adheres to federal regulations for financial institutions in Canada

Customer Review

Yelp: 1,7 Stars with 50+ Reviews

Trustpilot: 3 Stars with 2 Reviews

Key People at Coast Capital Savings

• Calvin MacInnis – Chief Executive Officer (CEO)
• Frank Leonard – Board Chair

Conclusion and Rating

Coast Capital Savings adheres to all technical compliance requirements and is fully regulated by the Financial Consumer Agency of Canada (FCAC). Additionally, it is overseen by the Office of the Superintendent of Financial Institutions (OSFI), ensuring robust regulatory compliance and financial stability.

However, significant negative customer reviews on platforms like Yelp indicate serious service weaknesses. Due to these concerns, we rate Coast Capital Savings as ORANGE.