Rogue Credit Union, Medford, Ore., on Thursday said the third quarter of 2017 brought “robust loan demand across all regions.”
Rogue CU said its equity position remains “stable, sound and strong” as the credit union closed Q3 with a 9.47 percent net worth ratio, which it noted was well above the “well capitalized” regulatory requirement of 7 percent. It reported assets of more than $1.42 billion.
In the third quarter, Rogue CU said it saw “continued membership and loan growth.” During Q3, Rogue increased its loan portfolio by more than $40 million to more than $1.05 billion, with 11.07 percent annualized growth. In Q3 2016, Rogue also experienced a portfolio increase of $40 million, with 13.11 percent annualized growth.
Rogue CU said it continues to see “strong and steady” deposit growth, ending the third quarter with total deposits of $1.26 billion, an annualized increase of 15.01%. The credit union noted its deposit growth “continues to be well above credit union industry average,” but was down from the annualized 22.29% that Rogue experienced in Q3 of 2016.
Rogue’s membership grew from 115,811 to 119,451 during the third quarter, with annualized membership growth of 11.33 percent. This compares to Rogue’s 107,657 members and annualized membership growth of 14.75 percent at the end of Q3 2016.
“Membership growth continues to stay steadily above the national average of 5 percent,” the credit union said in a statement.
Rogue said the third quarter saw the CU celebrate the opening of its West Medford Drive-Up, and new branches in South Grants Pass and Central Point.