Rogue Credit Union announced strong financial results for the second quarter of 2023. The credit union’s growth remained consistent in key categories. Total assets grew at an annualized rate of 19.28% with $3.24 billion in assets. The credit union experienced a return on assets of 0.89% and continues to experience membership growth, now serving over 206,037 members across Oregon and Idaho.
Rogue Credit Union’s equity position remains strong as the credit union closed the quarter with a 9.65% net worth ratio, well above the “well-capitalized” regulatory requirement of 7.00%.
| Rogue Credit Union | Q2 - 2023 | Q2 - 2022 | |||
| Total Assets | $3,243,142,708 | $3,075,804,589 | |||
| Asset Growth (annualized) | 19.28% | 8.89% | |||
| Total Loan Portfolio | $1,916,863,131 | $1,759,557,477 | |||
| Loan Growth (annualized) | 1.02% | 8.28% | |||
| Membership Size | 206,037 | 195,366 | |||
| Membership Growth (annualized) | 5.85% | 5.93% | |||
| Return on Assets (annualized) | 0.89% | 1.43% | |||
| Net Worth | $316,292,190 | $289,183,200 | |||
| Net Worth Ratio | 9.65% | 9.30% |
In addition to strong performance in all key categories, in April Rogue Credit Union announced the relocation of its West Grants Pass Branch. Now located at 340 Union Avenue, just steps away from the previous location, the new branch opened on Monday, April 10 and features the same friendly faces from the previous location.
Rogue Credit Union also received its Community Development Financial Institution (CDFI) certification in April. CDFI certification is granted to organizations that foster economic growth and opportunity in historically under-resourced communities. Through this new certification, the credit union will be able to secure grants that expand access to financial services throughout the regions it serves.