(Medford, OR) - Rogue Federal Credit Union hosted its 52
nd Annual Meeting and Elections on Tuesday, April 21, 2009 at the Jackson County Library. Troy Stang, CEO at the Beaverton-based Credit Union Association of Oregon, was a special guest and speaker. He reported that credit unions statewide have seen growing deposits and membership as a result of some of the nation's best known banks running aground financially last year. "In 2008, we experienced 2 percent growth statewide and most of that happened in the last two quarters," Stang said. Gene Pelham, President/CEO of Rogue Federal, reported in his state of the credit union address that "As members moved more and more of their funds to a safe, local, alternative we saw deposits grow 5.44% or by almost $19 million dollars in 2008." He went on to assure those members present that Rogue Federal was well positioned for the difficulties that our community faced with over $38 million in reserves and a Net Worth Ratio of 9.36%.
The meeting was also held to elect three members to the Board of Directors. Six nominees ran to fill the three vacant positions on the Board of Directors. Members were encouraged to vote in branches from April 1 through April 17, with the final opportunity to cast a ballot at the annual meeting. An unprecedented number of votes were gathered resulting in the following members being elected to serve on the Board for a three year term: Jerry Hauck, Jack Jones, and Rollin Hogge, all incumbents.
