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 | $387,805,413 |
| Less: Allowance for Loan Loss | -$2,945,036 |
| NET LOANS | $384,860,377 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $56,387,538 |
| TOTAL EARNING ASSETS | $441,247,915 |
| Total Cash | $3,776,963 |
| Total Fixed Assets | $7,676,266 |
| Total Other Assets | $23,561,699 |
| TOTAL NON-EARNING ASSETS | $35,014,928 |
| TOTAL ASSETS | $480,039,806 |
| Liabilities | Total |
|---|---|
| Total Shares | $420,572,797 |
| Notes Payable | $16,600,000 |
| Other Liabilities | $10,587,079 |
| TOTAL LIABILITIES | $447,759,875 |
| TOTAL EQUITY | $32,279,931 |
| TOTAL LIABILITIES AND EQUITY | $480,039,806 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,049,394 | $2,049,394 | $8,270,025 |
| Income from Investments | $151,086 | $151,086 | $517,849 |
| TOTAL INTEREST INCOME | $2,200,480 | $2,200,480 | $8,787,875 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $61,849 | $61,849 | $299,874 |
| Dividends | $439,273 | $439,273 | $1,697,334 |
| TOTAL INTEREST EXPENSE | $501,123 | $501,123 | $1,997,208 |
| NET INTEREST INCOME | $1,699,358 | $1,699,358 | $6,790,667 |
| Provision for Loan Losses | $200,000 | $200,000 | $987,133 |
| Provision for Negative Share Losses | $8,573 | $8,573 | $67,327 |
| TOTAL PROVISION EXPENSE | $208,573 | $208,573 | $1,054,460 |
| NON-INTEREST INCOME | |||
| Fee Income | $405,867 | $405,867 | $1,692,474 |
| Other Operating Income | $253,635 | $253,635 | $1,097,722 |
| TOTAL NON-INTEREST INCOME | $659,502 | $659,502 | $2,790,196 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $768,550 | $768,550 | $2,998,255 |
| Travel & Conference | $29,846 | $29,846 | $77,464 |
| Office Occupancy | $77,297 | $77,297 | $297,525 |
| Office Operations | $122,740 | $122,740 | $485,762 |
| Educational & Promotional | $37,357 | $37,357 | $132,471 |
| Loan Servicing | $317,987 | $317,987 | $1,225,681 |
| Professional & Outside Services | $487,682 | $487,682 | $1,895,353 |
| Member Insurance | $5,393 | $5,393 | $18,361 |
| Operating Fees | $6,744 | $6,744 | $28,239 |
| Miscellaneous | $38,323 | $38,323 | $177,991 |
| TOTAL NON-INTEREST EXPENSE | $1,891,918 | $1,891,918 | $7,337,102 |
| Net Non-Recurring Gain/(Loss) | $4,109 | $4,109 | $76,859 |
| NET INCOME | $262,477 | $262,477 | $1,266,161 |
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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