Rogue Credit Union Partners with Malheur Federal Credit Union to Serve Rural Oregon
June 23, 2020
Rogue Credit Union, based in southern Oregon, and Malheur Federal Credit Union, based in Eastern Oregon, have signed a letter of intent to merge in order to better serve members throughout rural Oregon and western Idaho.
Both credit unions have strong historical commonalities, which brought them together in the end. Like Rogue, Malheur began as a teacher’s credit union and now has over $160 million in assets. After a strategic search for the right partner, Malheur and Rogue agreed the partnership was a good fit for Oregon members. Rogue has returned over $24 million in Rogue Rewards and Loyalty Dividends to its members since 2016 and plans to retain local ownership and control where leadership focuses on returning the benefit to the communities it serves.
“We are beyond excited to be able to embark on this journey to partner with another great credit union,” said Gene Pelham, President and CEO of Rogue. “This partnership will allow us to continue to strengthen for the future and expand our field of membership. We will keep the local hometown feel of focusing on our members, while creating the advantages consumers expect from larger institutions.”
Malheur is headquartered in Ontario, Oregon, along the Idaho state border. Both credit unions understand how to meet the unique needs of members in the area, and the expansion will provide both memberships access to services across the state.
“We are excited about this opportunity to partner with one of the top performing credit unions in the nation,” said Roger Yasuda, Malheur’s Board Chair. “This will give our members more benefits and services we simply have not been able to provide until now.”
Rogue plans to retain employment for all staff and locations at this time. While there is still much to be finalized through the merger, both credit unions look forward to being able to offer even more ways to serve their members. The official merger of the two credit unions is slated to take place in 2021.
Have a question or comment about this story? Email us!
Posted in Around the NW.