Rogue Credit Union closes 2023 with continued growth
MEDFORD, OR (January 19, 2024) — Rogue Credit Union announced financial results for the fourth quarter of 2023. The credit union’s growth remained steady in key categories. Rogue’s total assets grew at an annualized rate of 13.68%, with over $3.3 billion in assets. The credit union experienced a solid Return on Assets of 0.88% and continues to experience membership growth, now serving over 206,000 members across Oregon and Idaho.
Rogue Credit Union’s equity position continues to grow, 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 |
|
Q4 – 2023 |
|
Q4 – 2022 |
|
| Total Assets |
|
$3,362,849,150 |
|
$2,958,047,875 |
|
| Asset Growth (annualized) |
|
13.68% |
|
.44% |
|
| Total Loan Portfolio |
|
$1,956,173,262 |
|
$1,907,118,026 |
|
| Loan Growth (annualized) |
|
2.57% |
|
12.87% |
|
| Membership Size |
|
206,652 |
|
202,227 |
|
| Membership Growth (annualized) |
|
2.19% |
|
9.51% |
|
| Return on Assets (annualized) |
|
0.88% |
|
1.19% |
|
| Net Worth |
|
$330,342,634 |
|
$302,926,384 |
|
| Net Worth Ratio |
|
9.73% |
|
10.13% |
|
In addition to strong performance in all key financial categories, Rogue remained a community partner throughout 2023, giving back over $410,000 to local communities through sponsorships, donations and scholarships.
The credit union made the largest corporate donation of the AsanteForward campaign in 2023, supporting the new Pediatrics Unit of the Olsrud Family Women’s and Children’s Hospital. Rogue also donated over $225,000 to local Children’s Miracle Network hospitals. The credit union extends a special thanks to its members and team members, whose support made these gifts possible.
Rogue Community Rally, the credit union’s employee-led volunteer initiative, returned in 2023. Team members completed 1,200 hours of volunteer service from July to October, part of the more than 12,200 hours volunteered by team members this year. 33 local non-profit organizations received support, including ACCESS, Avenue of the Flags, Giggles and Grace, Maslow Project, Next Chapter Food Pantry, Sleep in Heavenly Peace, Walk for Hope and more. Community beautification events were also held, benefiting local parks, beaches, schools and cities.
Rogue Credit Union received multiple community awards in 2023, including Best Credit Union (Bicoastal Media’s Best of Southern Oregon Magazine), Best Bank and Financial Institution (Argus Observer’s Best of Western Treasure Valley), Best Financial Institution and Best Personal Loan/Title Loan Company (Rogue Valley Times Community Choice Awards – Best of the Rogue Valley) and a Business Excellence Award from the Chamber of Medford and Jackson County.
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.
