2018 Q3 Press Release
Rogue Credit Union Announces Third Quarter Results
Medford, OR – Rogue Credit Union has announced its financial results for the third quarter (Q3) of 2018.
Rogue Credit Union continues to post strong financial results through the Q3. Rogue saw strong loan demand and increased its loan portfolio by $59 million, with annualized year-to-date growth of 14.81%. These Q3 results are above the $40 million increase and annualized growth of 11.07% that the credit union experienced in Q3 2017.
Rogue saw its assets increase to over $1.53 billion in Q3, and holds a net worth ratio of 10.08%, well exceeding regulatory requirements and ensuring that the credit union is a financially stable choice for Southern Oregonians.
Deposits continues to grow, as Rogue Credit Union ended Q3 with total deposits of $1.35 billion, an annualized increase of 9.88%. Rogue has had sustained deposit growth well above the credit union industry average for the past 5 years.
Rogue reports annualized year-to-date membership growth of 11.21% for Q3, growing its membership to 132,146. This is slightly down from 3Q 2017 where the credit union experienced annualized growth of 11.33%, but continues to be well above industry average of just over 4% membership growth.
In addition, Rogue Credit Union received two awards from the Credit Union National Association; the Louise Herring Philosophy in Action Awards for its development of the Rogue Southern Oregon University Campus Branch, and the Desjardins Youth Financial Education Award for the creation of its financial education U-Teach Curriculum, which meets the state of Oregon’s financial education standards and is free for educators.
Rogue Credit Union is a member-owned, not-for-profit financial cooperative, with an asset base of over $1.53 billion and a loan portfolio of over $1.21 billion. At Rogue, it’s about more than an auto loan or a checking account; it’s about offering a higher level of service to over 132,000 members across the state of Oregon. Under the direction of the board of directors, Rogue is committed to helping its members out along the way, making local communities better for everyone. A membership with Rogue is open to anyone who lives, works, worships, or attends school in the select Oregon counties. Stop by any branch or visit www.roguecu.org to learn more about becoming a part of something bigger.