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 | $392,934,927 |
| Less: Allowance for Loan Loss | -$3,006,273 |
| NET LOANS | $389,928,654 |
| 1st Mortgages to be sold | $232,800 |
| Total Investments | $59,440,876 |
| TOTAL EARNING ASSETS | $449,602,330 |
| Total Cash | $4,872,073 |
| Total Fixed Assets | $7,799,284 |
| Total Other Assets | $14,015,526 |
| TOTAL NON-EARNING ASSETS | $26,686,883 |
| TOTAL ASSETS | $481,161,286 |
| Liabilities | Total |
|---|---|
| Total Shares | $416,567,117 |
| Notes Payable | $16,600,000 |
| Other Liabilities | $12,687,254 |
| TOTAL LIABILITIES | $445,854,371 |
| TOTAL EQUITY | $35,306,915 |
| TOTAL LIABILITIES AND EQUITY | $481,161,286 |
| Current Month | Quarter-to-Date | Year-to-Date | |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,125,844 | $2,125,844 | $20,836,133 |
| Income from Investments | $114,838 | $114,838 | $1,305,282 |
| TOTAL INTEREST INCOME | $2,240,683 | $2,240,683 | $22,141,415 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $62,855 | $62,855 | $674,993 |
| Dividends | $429,134 | $429,134 | $4,201,343 |
| TOTAL INTEREST EXPENSE | $491,990 | $491,990 | $4,876,336 |
| NET INTEREST INCOME | $1,748,693 | $1,748,693 | $17,265,079 |
| Provision for Loan Losses | $165,050 | $165,050 | $2,684,500 |
| Provision for Negative Share Losses | $25,872 | $25,872 | $192,302 |
| TOTAL PROVISION EXPENSE | $190,921 | $190,921 | $2,876,802 |
| NON-INTEREST INCOME | |||
| Fee Income | $442,883 | $442,883 | $4,358,958 |
| Other Operating Income | $260,264 | $260,264 | $2,997,173 |
| TOTAL NON-INTEREST INCOME | $703,148 | $703,148 | $7,356,131 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $801,054 | $801,054 | $7,605,117 |
| Travel & Conference | $21,024 | $21,024 | $206,232 |
| Office Occupancy | $91,314 | $91,314 | $765,276 |
| Office Operations | $134,173 | $134,173 | $1,243,539 |
| Educational & Promotional | $60,602 | $60,602 | $395,986 |
| Loan Servicing | $323,114 | $323,114 | $3,099,898 |
| Professional & Outside Services | $496,142 | $496,142 | $4,827,613 |
| Member Insurance | $8,519 | $8,519 | $51,001 |
| Operating Fees | $7,060 | $7,060 | $63,539 |
| Miscellaneous | $27,856 | $27,856 | $238,044 |
| TOTAL NON-INTEREST EXPENSE | $1,970,859 | $1,970,859 | $18,503,304 |
| Net Non-Recurring Gain/(Loss) | -$690 | -$690 | $63,155 |
| NET INCOME | $289,370 | $289,370 | $3,304,260 |
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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