U.S. Highway 169 serves as a main route in Coleraine.
Some believe it was named after the town of Coleraine in Northern Ireland. However, evidence is stronger that John C. Greenway named it in part after Thomas F. Cole who was known as the "Father of the Canisteo Mining District." Cole had been president of the Oliver Iron Mining Company, a subsidiary of US Steel, which financed the building of the town. It is speculated that the "raine" was a reference to the ridge land formation that passes through the town.