Rogue Credit Union announces third quarter results
MEDFORD, OR (October 23, 2023) — Rogue Credit Union announced financial results for the third quarter of 2023. The credit union’s growth remained consistent in key categories. Total assets grew at an annualized rate of 16.8% with over $3.3 billion in assets. The credit union experienced a return on assets of 1.05% and continues to experience membership growth, now serving over 207,000 members across Oregon and Idaho.
Rogue Credit Union’s equity position remains strong as the credit union closed the quarter with a 9.73% net worth ratio, well above the “well-capitalized” regulatory requirement of 7.00%.
| Rogue Credit Union |
Q3 – 2023 |
Q3 – 2022 |
| Total Assets |
|
$3,330,868,902 |
|
$3,022,490,593 |
|
| Asset Growth (annualized) |
|
16.80% |
|
3.51% |
|
| Total Loan Portfolio |
|
$1,936,637,636 |
|
$1,848,913,821 |
|
| Loan Growth (annualized) |
|
2.06% |
|
12.57% |
|
| Membership Size |
|
207,856 |
|
201,384 |
|
| Membership Growth (annualized) |
|
6.02% |
|
4.83% |
|
| Return on Assets (annualized) |
|
1.05% |
|
1.34% |
|
| Net Worth |
|
$327,329,306 |
|
$297,665,587 |
|
| Net Worth Ratio |
|
9.73% |
|
9.74% |
|
In addition to strong performance in all key categories, Rogue Credit Union held its second annual Rogue “Community” Rally. From July through early October, 628 team members volunteered 1,173 hours at “Community” Rally events across the regions they serve. Every branch and department participated, creating unique team-building opportunities across the organization. Volunteer activities included park and beach clean-ups, groundskeeping, painting, repair projects and more. Over 40 organizations received support, including ACCESS, Avenue of the Flags, various schools, local food banks and community events.
With the Rogue “Community” Rally volunteer sprint, team members are on track to volunteer over 10,000 hours in their local communities in 2023. Matt Stephenson, President/CEO at Rogue Credit Union, said, “Our second annual Rogue ‘Community’ Rally has been a great opportunity to get back to our roots. As a credit union, our story begins with grassroots community leaders working hard to support our local community. This annual event is an exciting opportunity to support the hard work that continues today.”
Rogue Credit Union also recently announced a donation in support of the Pediatrics Unit of the Olsrud Family Women’s and Children’s Hospital at Asante. The largest corporate donation of the AsanteForward campaign, this gift supports Asante’s multi-year initiative to transform the quality and scope of health care available in Southern Oregon and Northern California.
“We are thrilled to announce this next step in our partnership with Asante,” said Matt Stephenson, President/CEO of Rogue Credit Union. “Throughout more than 30 years of partnership, our organizations have worked together to provide the best available health care for the communities we serve.”
Rogue Credit Union members have contributed to the Asante Children’s Miracle Network program through their participation in annual fundraisers. Every dollar raised stays in the community, going directly toward services that make a real difference in the lives of local children and families. The new Olsrud Family Women’s and Children’s Hospital at Asante Rogue Regional is scheduled to open in February 2024.
About Rogue Credit Union
Rogue Credit Union is a member-owned, not-for-profit financial cooperative, with an asset base of over $3 billion and a loan portfolio of over $1.9 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 206,000 members. 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. Membership with Rogue is open to anyone who lives works, worships, or attends school in select Oregon and Idaho counties. Stop by any branch or visit www.roguecu.org and learn more about becoming part of something bigger.
