Coastal Federal Credit Union has paid out $1.5 million to members in the launch of its new VIP Program.

The $2 billion Raleigh, N.C., credit union said the payout was prompted by Coastal's commitment to give back to its members who actively participated in the cooperative over the past year, and it said it was one of the most significant initiatives in 192,000-member Coastal's 45-year history.

The VIP Program rewards members who have their primary checking account at Coastal with special benefits and exclusive offers.

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