Rogue Credit Union closes quarter two 2023 with continued growth
MEDFORD, OR (July 18, 2023) — 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.
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.
