We’re an open book. Literally.
We believe in full transparency when it comes to our financial information. Here are Credit Union of New Jersey’s most recent financials for you to review:
| Assets | Total |
|---|---|
| Total Loans | $386,792,459 |
| Less: Allowance for Loan Loss | -$2,984,039 |
| NET LOANS | $383,808,420 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $48,463,893 |
| TOTAL EARNING ASSETS | $432,272,313 |
| Total Cash | $3,286,007 |
| Total Fixed Assets | $7,611,461 |
| Total Other Assets | $32,879,743 |
| TOTAL NON-EARNING ASSETS | $43,777,211 |
| TOTAL ASSETS | $479,335,531 |
| Liabilities | Total |
|---|---|
| Total Shares | $417,521,818 |
| Notes Payable | $16,600,000 |
| Other Liabilities | $11,189,890 |
| TOTAL LIABILITIES | $445,311,708 |
| TOTAL EQUITY | $34,023,823 |
| TOTAL LIABILITIES AND EQUITY | $479,335,531 |
| Current Month | Quarter-to-Date | Year-to-Date | |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,101,868 | $2,101,868 | $14,512,041 |
| Income from Investments | $124,455 | $124,455 | $932,216 |
| TOTAL INTEREST INCOME | $2,226,323 | $2,226,323 | $15,444,258 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $62,855 | $62,855 | $487,433 |
| Dividends | $404,015 | $404,015 | $2,954,916 |
| TOTAL INTEREST EXPENSE | $466,870 | $466,870 | $3,442,349 |
| NET INTEREST INCOME | $1,759,453 | $1,759,453 | $12,001,908 |
| Provision for Loan Losses | $156,447 | $156,447 | $1,784,365 |
| Provision for Negative Share Losses | $20,148 | $20,148 | $110,731 |
| TOTAL PROVISION EXPENSE | $176,596 | $176,596 | $1,895,096 |
| NON-INTEREST INCOME | |||
| Fee Income | $456,637 | $456,637 | $3,006,367 |
| Other Operating Income | $630,366 | $630,366 | $2,228,453 |
| TOTAL NON-INTEREST INCOME | $1,087,003 | $1,087,003 | $5,234,820 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $795,844 | $795,844 | $5,272,010 |
| Travel & Conference | $39,873 | $39,873 | $163,425 |
| Office Occupancy | $75,175 | $75,175 | $522,195 |
| Office Operations | $127,453 | $127,453 | $845,810 |
| Educational & Promotional | $33,517 | $33,517 | $227,833 |
| Loan Servicing | $300,608 | $300,608 | $2,138,657 |
| Professional & Outside Services | $500,676 | $500,676 | $3,344,525 |
| Member Insurance | $8,023 | $8,023 | $34,433 |
| Operating Fees | $7,060 | $7,060 | $49,419 |
| Miscellaneous | -$1,695 | -$1,695 | $128,567 |
| TOTAL NON-INTEREST EXPENSE | $1,886,533 | $1,886,533 | $12,726,874 |
| Net Non-Recurring Gain/(Loss) | $921 | $921 | $65,603 |
| NET INCOME | $784,248 | $784,248 | $2,680,362 |
Enjoy the freedom to prosper. If you have questions about our Financials, feel free to give us a call at 609.538.4061 or 800.538.4061, email us at memberservices@cunj.org or stop by one of our convenient branch locations.
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