2017 Q1 Press Release
Rogue Credit Union Experiences Strong First Quarter Growth
Medford, OR – Rogue Credit Union ended the first quarter of 2017 with strong and stable growth. Rogue was recently named the 11th best performing credit union in the nation by S&P Global Market Intelligence Report and with new locations under construction in Grants Pass, Roseburg and Central Point, Rogue is remaining grounded in Southern Oregon.
“For over 60 years, Rogue Credit Union has focused on serving our local communities,” said President/CEO Gene Pelham. “We’re excited to continue investing in Southern Oregon as our members continue to request new convenient locations to do business.”
In the first quarter, Rogue Credit Union saw strong loan demand across all regions it serves. During Q1, Rogue increased its loan portfolio by over $17.5 million, or 7.19% annualized growth. This growth compares to loan growth of $11.6 million or 5.49% in Q1 2016.
Rogue Credit Union continues to experience record deposit growth, ending the first quarter with total deposits of $1.19 billion, an increase of 19.73%. Deposit growth continues to be well above credit union industry average, but is down from the 28.04% Rogue experienced in Q1 of 2016.
Rogue’s membership grew from 110,092 to 112,908 during the first quarter, with annualized membership growth of 10.23%. This compares to Rogue’s 101,158 members and annualized membership growth of 17.43% at the end of Q1 2016. Membership growth continues to stay steadily above the national average of 5%.
Rogue Credit Union’s equity position remains stable and strong as the credit union closes the first quarter with a 9.41% net worth ratio, well above the “well capitalized” regulatory requirement of 7% and assets of over $1.3 billion.