2017 Q2 Press Release
Rogue Credit Union Continues Strong Growth Through Second Quarter
Medford, OR – Rogue Credit Union ended the second quarter of 2017 with continued membership and loan growth, while expanding its footprint further into the Roseburg Market with the opening of its second branch on 1390 NW Garden Valley Boulevard.
In the second quarter, Rogue continued to experience strong loan demand across all regions it serves. During Q2, Rogue increased its loan portfolio by over $23 million, or 9.43% annualized growth. Loan growth continues to be steady, but is lower than the $31.82 million or 15.10% increase in Q2 2016.
Rogue Credit Union continues to experience record deposit growth, ending the second quarter with total deposits of $1.22 billion, an increase of 10.72%. Deposit growth continues to be well above credit union industry average, but is down from the 13.76% that Rogue experienced in Q2 of 2016.
Rogue’s membership grew from 112,908 to 115,811 during the first quarter, with annualized membership growth of 10.28%. This compares to Rogue’s 104,413 members and annualized membership growth of 12.87 at the end of Q2 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 second quarter with a 9.50% net worth ratio, well above the “well capitalized” regulatory requirement of 7% and assets of over $1.37 billion.