Rogue Credit Union caps 2023 with growth, stability; giving tops $410K
Published 10:00 am Monday, January 22, 2024
- Rogue Credit Union's newest office building on South Pacific Highway and Garfield Street.
Rogue Credit Union announced its fourth-quarter financial results for 2023, displaying stability and growth in key categories.
The financial cooperative, headquartered in Medford, experienced growth in assets at an annualized rate of 13.68% with more than $3.3 billion in total assets.
Rogue Credit Union also experienced a 0.8% return on assets for the fourth quarter of 2023.
The credit union’s membership size grew from 202,227 members in the fourth quarter of 2022 to 206,652 members in quarter four of 2023 — a 2.19% growth in membership across Oregon and Idaho.
Rogue Credit Union’s equity position — the amount of stocks or shares that investors own in a company — continued to grow in 2023, as the credit union closed the year with a 9.73% net worth ratio, above the regulatory requirement of 7%.
The financial cooperative’s net worth grew by close to $28 million in 2023 with a total net worth of $330,342,634.
Rogue Credit Union donated more than $410,000 to local communities via sponsorships, donations and scholarships in 2023, with the credit union giving more than $225,000 to local Children’s Miracle Network hospitals.
The credit union also received multiple community awards in 2023, winning “Best Credit Union” from Bicoastal Media’s Best of Southern Oregon magazine, “Best Personal Loan/Title Loan Company from the Rogue Valley Times Community Choice Awards, a “Business Excellence Award” from the Chamber of Medford and Jackson County and other accolades.
The credit union’s employee-led volunteer initiative, Rogue Community Rally, returned in 2023 with employees completing more than 1,200 hours of volunteer service from July to October.
Rogue Credit Union is a member-owned, not-for-profit financial cooperative established in 1956 by a group of 10 teachers in Southern Oregon. The credit union has branches across Oregon and western Idaho.
To view the financial cooperative’s 2023 quarter four results, visit www.roguecu.org/about-us/newsroom/2023-releases/q4/qrt-4-2023-pr.