2018 Q1 Press Release
Rogue Credit Union Continues Strong Growth In 1st Quarter
Medford, OR – Rogue has started the year off with a bang, being recently recognized as the third best large organization to work for in Oregon and celebrating the opening of its much-anticipated second location in South Ashland.
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 $35.5 million, or 13.04% annualized growth for a total loan portfolio of over $1.12 billion. This growth compares to loan growth of $17.5 million or 7.19% in Q1 2017.
Rogue Credit Union continues to experience solid deposit growth, ending the first quarter with total deposits over $1.32 billion, an annualized growth of 21.84%. Deposit growth continues to be well above credit union industry average, and is up from the 19.73% Rogue experienced in Q1 of 2017.
“Growth is not a strategy,” says President/CEO Gene Pelham. “It is the result of local consumers trusting us with their savings and loans as they seek a personal touch through a robust branch network and the convenience of capable technology solutions.”
Rogue’s membership grew to 125,251 during the first quarter, with annualized membership growth of 11.01%. This compares to Rogue’s 112,908 members and annualized membership growth of 10.23% at the end of Q1 2017.
Rogue Credit Union’s equity position remains stable and strong as the credit union closes the first quarter with a 9.68% net worth ratio, well above the “well capitalized” regulatory requirement of 7% and assets of over $1.49 billion.