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 | $388,965,885 |
| Less: Allowance for Loan Loss | -$3,260,545 |
| NET LOANS | $385,705,340 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $76,733,839 |
| TOTAL EARNING ASSETS | $462,439,179 |
| Total Cash | $5,902,358 |
| Total Fixed Assets | $7,672,486 |
| Total Other Assets | $18,103,378 |
| TOTAL NON-EARNING ASSETS | $25,775,864 |
| TOTAL ASSETS | $494,117,400 |
| Liabilities | Total |
|---|---|
| Total Shares | $428,767,788 |
| Notes Payable | $16,600,000 |
| Other Liabilities | $12,131,302 |
| TOTAL LIABILITIES | $457,499,090 |
| TOTAL EQUITY | $36,618,310 |
| TOTAL LIABILITIES AND EQUITY | $494,117,400 |
| Current Month | Quarter-to-Date | Year-to-Date | |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,218,107 | $2,218,107 | $2,218,107 |
| Income from Investments | $142,215 | $142,215 | $142,215 |
| TOTAL INTEREST INCOME | $2,360,323 | $2,360,323 | $2,360,323 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $62,855 | $62,855 | $62,855 |
| Dividends | $477,171 | $477,171 | $477,171 |
| TOTAL INTEREST EXPENSE | $540,026 | $540,026 | $540,026 |
| NET INTEREST INCOME | $1,820,297 | $1,820,297 | $1,820,297 |
| Provision for Loan Losses | $191,273 | $191,273 | $191,273 |
| Provision for Negative Share Losses | $30,492 | $30,492 | $30,492 |
| TOTAL PROVISION EXPENSE | $221,765 | $221,765 | $221,765 |
| NON-INTEREST INCOME | |||
| Fee Income | $481,649 | $481,649 | $481,649 |
| Other Operating Income | $231,718 | $231,718 | $231,718 |
| TOTAL NON-INTEREST INCOME | $713,367 | $713,367 | $713,367 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $808,539 | $808,539 | $808,539 |
| Travel & Conference | $12,383 | $12,383 | $12,383 |
| Office Occupancy | $76,784 | $76,784 | $76,784 |
| Office Operations | $152,031 | $152,031 | $152,031 |
| Educational & Promotional | $84,005 | $84,005 | $84,005 |
| Loan Servicing | $290,561 | $290,561 | $290,561 |
| Professional & Outside Services | $516,468 | $516,468 | $516,468 |
| Member Insurance | $6,549 | $6,549 | $6,549 |
| Operating Fees | $5,714 | $5,714 | $5,714 |
| Miscellaneous | $24,860 | $24,860 | $24,860 |
| TOTAL NON-INTEREST EXPENSE | $1,977,896 | $1,977,896 | $1,977,896 |
| Net Non-Recurring Gain/(Loss) | $47,904 | -$47,904 | $47,904 |
| NET INCOME | $381,906 | $381,906 | $381,906 |
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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