2022 Q1 Press Release
ROGUE CREDIT UNION CLOSES Q1 2022 WITH CONTINUED GROWTH
Medford, OR – Rogue Credit Union announced financial results for the first quarter of 2022. Rogue’s growth remained steady in key categories. Rogue’s total assets grew at an annualized rate of 16.42%, and the credit union celebrated a milestone, passing $3 billion in assets. The credit union experienced a strong Return on Assets of 1.56% and continues to experience membership growth, now serving over 188,000 members across Oregon and Idaho. Rogue Credit Union’s equity position remains extremely strong as the credit union closed the quarter with a 9.01% net worth ratio, well above the “well-capitalized” regulatory requirement of 7.00%.
|
Rogue Credit Union |
Q1 - 2022 |
Q1 - 2021 |
|
Total Assets |
$3,065,863,309 |
$2,731,699,792 |
|
Asset Growth (annualized) |
16.42% |
38.87% |
|
Total Loan Portfolio |
$1,684,871,339 |
$1,510,373,451 |
|
Loan Growth (annualized) |
-1.12% |
-3.12% |
|
Membership Size |
188,028 |
168,683 |
|
Membership Growth (annualized) |
3.38% |
8.12% |
|
Return on Assets (annualized) |
1.56% |
1.34% |
|
Net Worth |
$279,423,439 |
$238,818,742 |
|
Net Worth Ratio |
9.01% |
8.63% |
In the first quarter, Rogue celebrated the opening of its 27th branch, located in West Medford. This full-service location created seven new jobs and provides members with a new, convenient location to do business. Rogue also broke ground on a new branch in West Grants Pass which will become the future home of the existing branch on Union Avenue.
The Rogue Credit Union Board of Directors named current President, Matt Stephenson, the new President/CEO effective April 1, 2022, following the retirement of long-time CEO Gene Pelham. Pelham’s retirement brought to a close a remarkable career of 43 years in financial services and more than 18 years of service with Rogue Credit Union.
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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 $1.6 billion. At Rogue, it’s about more than an auto loan or checking account; it’s about offering a higher level of service to over 188,000 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. A membership with Rogue is open to anyone who lives, works, worships or attends school in the select Oregon and Idaho counties. Stop by any branch or visit www.roguecu.org and learn more about becoming part of something bigger.
