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 | $394,465,249 |
| Less: Allowance for Loan Loss | -$3,328,555 |
| NET LOANS | $391,136,694 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $64,881,275 |
| TOTAL EARNING ASSETS | $456,017,969 |
| Total Cash | $4,769,851 |
| Total Fixed Assets | $7,733,543 |
| Total Other Assets | $26,475,925 |
| TOTAL NON-EARNING ASSETS | $34,209,468 |
| TOTAL ASSETS | $494,997,287 |
| Liabilities | Total |
|---|---|
| Total Shares | $430,035,525 |
| Notes Payable | $16,600,000 |
| Other Liabilities | $12,222,790 |
| TOTAL LIABILITIES | $458,858,315 |
| TOTAL EQUITY | $36,138,973 |
| TOTAL LIABILITIES AND EQUITY | $494,997,287 |
| Current Month | Quarter-to-Date | Year-to-Date | |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,144,130 | $6,364,712 | $25,075,001 |
| Income from Investments | $140,867 | $379,800 | $1,570,243 |
| TOTAL INTEREST INCOME | $2,284,996 | $6,744,512 | $26,645,244 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $62,855 | $187,560 | $799,697 |
| Dividends | $458,692 | $1,318,337 | $5,090,546 |
| TOTAL INTEREST EXPENSE | $521,547 | $1,505,896 | $5,890,243 |
| NET INTEREST INCOME | $1,763,449 | $5,238,616 | $20,755,002 |
| Provision for Loan Losses | $474,490 | $868,153 | $3,387,603 |
| Provision for Negative Share Losses | $18,666 | $58,088 | $224,518 |
| TOTAL PROVISION EXPENSE | $493,156 | $926,241 | $3,612,121 |
| NON-INTEREST INCOME | |||
| Fee Income | $504,418 | $1,392,948 | $5,309,022 |
| Other Operating Income | $266,686 | $950,456 | $3,687,365 |
| TOTAL NON-INTEREST INCOME | $771,104 | $2,343,404 | $8,996,387 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $920,632 | $2,462,874 | $9,266,937 |
| Travel & Conference | $23,613 | $63,242 | $248,451 |
| Office Occupancy | $77,430 | $235,772 | $909,735 |
| Office Operations | $123,367 | $383,116 | $1,492,482 |
| Educational & Promotional | $47,572 | $164,041 | $499,424 |
| Loan Servicing | $319,240 | $970,441 | $3,747,226 |
| Professional & Outside Services | $522,310 | $1,461,654 | $5,793,124 |
| Member Insurance | $5,906 | $21,449 | $63,931 |
| Operating Fees | $7,060 | $21,180 | $84,718 |
| Miscellaneous | $49,229 | $112,462 | $322,650 |
| TOTAL NON-INTEREST EXPENSE | $2,096,359 | $5,896,230 | $22,428,675 |
| Net Non-Recurring Gain/(Loss) | -$14,058 | -$14,748 | $49,098 |
| NET INCOME | -$69,018 | $744,801 | $3,759,690 |
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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