2020 Q2 Press Release
Rogue Credit Union Closes Q2 With Continued Growth
Medford, OR – Rogue Credit Union announced financial results for the second quarter of 2020. Rogue’s growth remained steady in key categories. Rogue’s total assets grew at an annualized rate of 33.37%, primarily due to an influx of deposits from stimulus payments, Paycheck Protection Program loans and tax returns. Rogue has continued to experience membership growth above industry average, growing to serve over 148,000 members across Southern Oregon.
During this unprecedented time, Rogue Credit Union has remained true to the credit union principle of “people helping people”. The credit union worked tirelessly to facilitate over $29 million in Paycheck Protection Program relief to over 700 local businesses and has assisted members with over 12,700 payment deferments. It has also provided over 200 interest free computer loans, helping to support those working and learning remotely during this time.
|
Rogue Credit Union |
Q2 - 2020 |
Q2 - 2019 |
|
Total Assets |
$1,980,478,651 |
$1,628,804,298 |
|
Asset Growth (annualized) |
33.37% |
10.85% |
|
Total Loan Portfolio |
$1,361,019,215 |
$1,270,841,998 |
|
Loan Growth (annualized) |
2.89% |
0.89% |
|
Membership Size |
148,546 |
140,132 |
|
Membership Growth (annualized) |
6.07% |
8.57% |
|
Return on Assets (annualized) |
0.87% |
1.76% |
|
Net Worth |
$189,074,585 |
$171,083,119 |
|
Net Worth Ratio |
9.54% |
10.50% |
Rogue Credit Union has 21 locations across Jackson, Josephine, Klamath, Curry, Coos and Douglas counties. The credit union also announced plans to pursue a merger with Malheur Federal Credit Union in Eastern Oregon, which would allow Rogue to expand its field of membership. Rogue Credit Union’s equity position remains extremely strong as the credit union closed the quarter with a 9.54 % net worth ratio, well above the “well capitalized” regulatory requirement of 7.00%.
