Coastway Community Bank has been helping Rhode Islanders with their financial needs for nearly 100 years. From hand-written general ledger cards in 1920 to electronic banking in the 21st century, Coastway’s commitment to helping fulfill the dreams of its customers and their families stands strong and will only get stronger.
The Telephone Workers Credit Union, later renamed Coastway Credit Union, opens its doors in Providence to serve telephone employees.
Meanwhile, Warwick Credit Union, later renamed Ocean State, is founded. The credit unions grow and thrive separately, both becoming trusted community partners.
Coastway Credit Union and Ocean State Credit Union merge, combining branch locations, products and services, enabling the institution to serve even more Rhode Islanders.
Coastway changes its charter to a Community Bank, allowing us greater business lending flexibility and grow our product portfolio.
Coastway forms a Mutual Holding Company to allow for further growth.
Coastway Bancorp goes public in an initial public offering on the NASDAQ, under stock symbol “CWAY.”
With more than $670 million in assets and over 30,000 customers, Coastway is dedicated to outstanding customer service and the belief that strengthening the fabric of the communities we’ve served for so long is of the utmost importance. Coastway’s branch locations include Cranston, East Providence, Lincoln, Providence, Warwick and East Greenwich.
Since 2002, we have made over 10,000 families’ dreams come true with residential mortgages, reverse mortgages and refinances. From 2009 to the present, we’ve granted almost $2 billion in mortgage loans in our community, and have been named Rhode Island Housing’s Participating Lender of the Year in 2013, 2014, 2015 and 2016 – recognition for our commitment to helping buyers. Coastway’s team of Mortgage Loan Officers work one on one with their clients to make sure the client has a mortgage solution that’s tailor made for them. In addition to being available in our branches, we’ve opened 3 mortgage satellite offices in Bristol, South Kingstown and Newport to help even more Rhode Islanders achieve the dream of home ownership.
The heart of the community is small business. Coastway has lent over $407 million to local businesses since we converted to a Community Bank in 2009. And Coastway was named top SBA lender for fiscal years 2014, 2015 and 2016, making more loans for more money than any other bank in Rhode Island, keeping dollars in our community and helping our neighbors to succeed.
Our branch staff has a reputation for knowing their customers by name and building relationships that keep people coming back. That level of personal service, coupled with all the online conveniences that larger banks offer, is what makes Coastway special. From our mobile app, to mobile check deposit, person to person payments and purchase alerts, our customers can count on us staying up to date with all the latest in banking technology, while offering the cornerstone banking products that help you manage your money every day.