2018 Q2 Press Release
Positive Growth Continues For Rogue Credit Union In Second Quarter
Medford, OR – Rogue Credit Union is celebrating strong second quarter growth in all key categories.
Rogue experienced strong loan demand in the second quarter and grew its loan portfolio by $26 million, with annualized growth year-to-date of 11.36%. This loan growth is above the $23 million increase and annualized growth of 8.26% the credit union saw in Q2 2017.
Rogue Credit Union continues to experience record deposit growth, ending Q2 with total deposits of $1.34 billion, an annualized increase of 13.85%. Rogue has had sustained deposit growth well above the credit union industry average for the past 5 years.
Strong loan and deposit growth has been complimented by solid membership growth. In Q2, Rogue’s membership grew from 125,251 to 128,702, with annualized growth year-to-date of 11.17%. This compares to a membership of 115,811 and annualized growth of 10.39% in Q2 2017. This membership growth has also remained above the national average of 5%, despite the fact that growth is not the strategy.
During this time, Rogue also gave over $28,000 in scholarships to local area graduating students who competed for the chance to win one of several scholarships the credit union offers each year. Rogue was also honored to be selected as #1 Credit Union in Oregon by Forbes Magazine
Rogue Credit Union continues to be a financially stable choice for Southern Oregonians, as the credit union closed Q2 with a 9.84% net worth ratio, well above the “well capitalized” regulatory requirement of 7%, and assets of over $1.50 billion.