2017 Q3 Press Release
Rogue Credit Union Third Quarter Financials
Medford, OR – Rogue Credit Union ended the third quarter of 2017 with continued membership and loan growth, and celebrated the opening of its West Medford Drive-Up, new South Grants Pass and Central Point Branches.
In the third quarter, Rogue saw robust loan demand across all regions. During Q3 2017, Rogue increased its loan portfolio by over $40 million, to over $1.05 billion with 11.07% annualized growth. This compares to Q3 2016, where Rogue experienced an over $40 million increase and 13.11% annualized growth.
Rogue Credit Union continues to see strong and steady deposit growth, ending the third quarter with total deposits of $1.26 billion, an annualized increase of 15.01%. Deposit growth continues to be well above credit union industry average, but is down from the annualized 22.29% that Rogue experienced in Q3 of 2016.
Rogue’s membership grew from 115,811 to 119,451 during the third quarter, with annualized membership growth of 11.33%. This compares to Rogue’s 107,657 members and annualized membership growth of 14.75% at the end of Q3 2016. Membership growth continues to stay steadily above the national average of 5%.
Rogue Credit Union’s equity position remains stable, sound and strong as the credit union closes the third quarter with a 9.47% net worth ratio, well above the “well capitalized” regulatory requirement of 7% and assets of over $1.42 billion.