The History of Rogue Credit Union

In 1956 the average American was making around $2.14 an hour, they could purchase a Ford automobile for under $1,800 and gas was $0.20 a gallon. Bread was $0.19 a loaf and milk was going for about $1.00 a gallon. A share in Rogue Credit Union was only $0.25. A pretty good return on your investment don’t you think?

Though the late 1950s were exciting times for America, financial services were not easily available. The lack of financial services brought together a group of 10 teachers in Southern Oregon to find a way to help each other. By forming a financial cooperative, owned and operated by a group of individuals for their mutual benefit, they were able to ensure that they had access to fairly priced credit and a safe place for their investments. Membership was open to public school employees who worked in Jackson County, employees of the Credit Union, members of their immediate families, and organizations to which these persons belonged.

During the early 1960s, Jackson County Teachers Federal Credit Union (JCTFCU), as it was known, moved from a garage into an office, started a newsletter and hit the $1 million mark in assets.  They ended the decade having a part-time operation in Ashland.

A merger and name change to Rogue Federal Credit Union in 1972 allowed the expansion of the field of membership to serve city, county, state and school employees. In 1977, the credit union began offering checking accounts. Three years later, Rogue Credit Union hit the $20 million mark in assets and opened the Ashland Branch in 1984.

The 30th year was marked with the opening of an office in North Medford and the credit union hit $50 million in assets by 1986.

With the end of 1996 and forty years of successful operations in meeting the needs of members, Rogue Credit Union boasted $120 million in assets and over 27,000 members.  In 1998, Rogue Credit Union pushed through the $150 million mark in assets and ended 1999 with over $177 million. Rogue Credit Union began the 21st Century with 32,000 members and $185 million in assets.  During 2001 the National Credit Union Administration approved an amendment to Rogue’s charter expanding the field of membership to include Josephine and Klamath counties and allowing a branch to be built in Grants Pass (2004) and Klamath Falls (2005).

In 2012, the credit union purchased and assumed the Oregon operations of Chetco Federal Credit Union from the National Credit Union Administration.  This resulted in the addition of Curry, Coos and Del Norte counties to our charter area and five full service branches from Brookings to Bandon.  Once combined the credit union served over 71,000 members in 5 Oregon counties and one California County with assets of $809 million.

Rogue Credit Union has become an industry leader throughout the recent downturn in the economy. Now with 15 full-service branch locations in seven counties, and one drive-up only location in Medford, your credit union serves a variety of financial needs from basic financial services, to mortgage loans, investment services, and business loans. Today Rogue has over 95,000 members and boasts assets in excess of $1 billion – all due to the efforts of one small, insightful group in 1956. Never underestimate the power of people sharing a dream to better their community!

The Credit Union Difference

Rogue Credit Union is a not-for-profit cooperative financial institution that is owned and operated by its members. Members elect a volunteer board of directors to oversee the credit union and the President/CEO reports to this board. Where bank directors are paid and legally bound to make decisions that benefit stockholders, the credit union President/CEO works hard to guarantee profits are shared with members through the payment of dividends, lower rates on loans and higher earnings on savings.  Because credit unions aren’t focused on making a profit, interest rates on credit cards and auto loans average around two percentage points lower than bank rates. Money Maker, savings and interest checking accounts provide higher rates giving back more to members.

Living Local – From the peak of Mt. McLoughlin to the crest of the Siskiyou Pass, here in Southern Oregon there is just something about being HOME. At Rogue Credit Union, we get it; Southern Oregon is a great place to live and that’s why we at Rogue are here to stay. We believe Living Local means actively engaging in life here locally, experiencing all that Southern Oregon has to offer. One thing that differentiates Rogue Credit Union from other institutions is that decisions are made locally by our volunteer board of directors right here in Southern Oregon.

Giving Local – Another thing that sets credit unions apart from most financial institutions is their active investment in local communities. Whether it’s sponsoring local community events, working to educate members about better ways to manage money, or offering discounts through our Living Local Discounts program, credit unions strive to make a positive difference in their communities. Credit unions work for the sustainable development of communities they are located in.

Supporting Local – Part of the credit union philosophy is ensuring that members understand financial options. Rogue offers seminars, newsletters, and print/online financial resources to help members gain a deeper understanding of financial matters. Whether it’s buying a car or home, building an emergency fund, or planning retirement, you can turn to your credit union for the facts.

Local Trust – Federally chartered and insured credit unions are overseen by the National Credit Union Administration (NCUA), just as banks are overseen by the Federal Deposit Insurance Corporation (FDIC). NCUA provides credit union savings insurance of at least $250,000 through the National Credit Union Share Insurance Fund (NCUSIF), a savings insurance program backed by the full faith and credit of the United States Government, just like the FDIC.

Local Contact Information:

Rogue Credit Union
PO Box 4550
Medford, OR 97501
541.734.0607 | 800.856.7328