Rogue Credit Union Partners with Malheur Federal Credit Union Press Release
ROGUE CREDIT UNION PARTNERS WITH MALHEUR FEDERAL CREDIT UNION TO SERVE RURAL OREGON
MEDFORD, OR – Rogue Credit Union and Malheur Federal Credit Union in Eastern Oregon have signed a letter of intent to join forces with a merger of the two credit unions. After much discussion with both Leadership Teams and Boards, and careful review of cultures and financials, Rogue is pursuing the opportunity to partner with Malheur to serve rural Oregon and Western Idaho. Both credit unions understand how to serve the unique needs of rural Oregon and the expansion provides both memberships access to services across the state.
Like Rogue, Malheur was started as a teacher’s credit union and has assets of over $160 million and is financially strong which has allowed them to interview several credit unions to find the right partner for their credit union. In the end, both credit unions agreed that Rogue is the right choice for this partnership. Rogue has returned over $24 million in Rogue Rewards and Loyalty Dividends to their members since 2016. Rogue plans to retain local ownership and control where leadership focuses on returning the benefit to the communities they serve. “We are beyond excited to be able to embark on this journey to partner with another great credit union. This partnership will allow us to continue to strengthen for the future and expand our field of membership. We will keep the local hometown feel of focusing on our members, while creating the advantages consumers expect from larger institutions,” said Rogue Credit Union’s President/CEO, Gene Pelham.
Malheur is headquartered in Ontario in Eastern Oregon right along the Oregon and Idaho state border. By merging these two credit unions together, this will enable both credit unions to grow to serve an expanded field of membership. “We are excited about this opportunity to partner with one of the top performing credit unions in the nation. This will give our members more benefits and services we simply have not been able to provide until now. They are a credit union deeply committed to the communities they serve and will retain the same level of dedication to the Malheur communities,” said Malheur Federal Credit Union’s Board Chair, Roger Yasuda.
Rogue plans to retain employment for all staff and locations at this time. While there is still much to be finalized through this merger, both credit union’s look forward to the future and being able to offer even more ways to serve their members. The merging of the two credit unions would likely take place in 2021.
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Rogue Credit Union is a member-owned, not-for-profit financial cooperative, with an asset base of over $1.87 billion and a loan portfolio of over $1.33 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 146,000 members across the state of Oregon. Under the direction of the board of directors, Rogue is dedicated to giving back to the communities it serves. A membership with Rogue is open to anyone who lives, works or owns a business in select Oregon counties. Stop by any branch or visit www.roguecu.org and learn more.
