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 | $387,394,620 |
| Less: Allowance for Loan Loss | -$3,035,098 |
| NET LOANS | $384,359,522 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $62,846,072 |
| TOTAL EARNING ASSETS | $447,205,594 |
| Total Cash | $3,975,556 |
| Total Fixed Assets | $7,552,670 |
| Total Other Assets | $22,647,945 |
| TOTAL NON-EARNING ASSETS | $34,176,171 |
| TOTAL ASSETS | $485,357,321 |
| Liabilities | Total |
|---|---|
| Total Shares | $424,629,738 |
| Notes Payable | $16,600,000 |
| Other Liabilities | $11,897,738 |
| TOTAL LIABILITIES | $453,127,477 |
| TOTAL EQUITY | $32,229,844 |
| TOTAL LIABILITIES AND EQUITY | $485,357,321 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,169,293 | $6,220,631 | $6,220,631 |
| Income from Investments | $142,690 | $366,763 | $366,763 |
| TOTAL INTEREST INCOME | $2,311,984 | $6,587,394 | $6,587,394 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $62,855 | $238,024 | $238,024 |
| Dividends | $443,560 | $1,258,061 | $1,258,061 |
| TOTAL INTEREST EXPENSE | $506,415 | $1,496,085 | $1,496,085 |
| NET INTEREST INCOME | $1,805,569 | $5,091,309 | $5,091,309 |
| Provision for Loan Losses | $269,321 | $787,133 | $787,133 |
| Provision for Negative Share Losses | $6,143 | $58,754 | $58,754 |
| TOTAL PROVISION EXPENSE | $275,464 | $845,887 | $845,887 |
| NON-INTEREST INCOME | |||
| Fee Income | $415,228 | $1,286,607 | $1,286,607 |
| Other Operating Income | $325,214 | $844,087 | $844,087 |
| TOTAL NON-INTEREST INCOME | $740,442 | $2,130,694 | $2,130,694 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $746,112 | $2,229,705 | $2,229,705 |
| Travel & Conference | $19,918 | $47,618 | $47,618 |
| Office Occupancy | $67,190 | $220,228 | $220,228 |
| Office Operations | $108,901 | $363,022 | $363,022 |
| Educational & Promotional | $40,672 | $95,115 | $95,115 |
| Loan Servicing | $307,134 | $907,694 | $907,694 |
| Professional & Outside Services | $473,999 | $1,407,671 | $1,407,671 |
| Member Insurance | $4,024 | $12,968 | $12,968 |
| Operating Fees | $7,165 | $21,496 | $21,496 |
| Miscellaneous | $94,296 | $139,667 | $139,667 |
| TOTAL NON-INTEREST EXPENSE | $1,869,413 | $5,445,184 | $5,445,184 |
| Net Non-Recurring Gain/(Loss) | $51,387 | $72,751 | $72,751 |
| NET INCOME | $452,522 | $1,003,683 | $1,003,683 |
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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