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 | $388,729,908 |
Less: Allowance for Loan Loss | -$2,909,912 |
NET LOANS | $385,819,996 |
1st Mortgages to be sold | $0 |
Total Investments | $63,211,049 |
TOTAL EARNING ASSETS | $449,031,045 |
Total Cash | $3,740,585 |
Total Fixed Assets | $7,593,676 |
Total Other Assets | $14,615,834 |
TOTAL NON-EARNING ASSETS | $25,950,095 |
TOTAL ASSETS | $478,721,726 |
Liabilities | Total |
---|---|
Total Shares | $413,987,338 |
Notes Payable | $16,600,000 |
Other Liabilities | $13,486,072 |
TOTAL LIABILITIES | $444,073,410 |
TOTAL EQUITY | $34,648,316 |
TOTAL LIABILITIES AND EQUITY | $478,721,726 |
Current Month | Quarter-to-Date | Year-to-Date | |
---|---|---|---|
INTEREST INCOME | |||
Interest on Loans | $2,103,055 | $4,204,924 | $16,615,097 |
Income from Investments | $135,851 | $260,306 | $1,068,068 |
TOTAL INTEREST INCOME | $2,238,907 | $4,465,230 | $17,683,164 |
INTEREST EXPENSE | |||
Interest on Borrowed Money | $62,855 | $125,710 | $550,288 |
Dividends | $414,642 | $818,657 | $3,369,558 |
TOTAL INTEREST EXPENSE | $477,497 | $944,368 | $3,919,846 |
NET INTEREST INCOME | $1,761,409 | $3,520,862 | $13,763,318 |
Provision for Loan Losses | $307,346 | $463,793 | $2,091,711 |
Provision for Negative Share Losses | $19,743 | $39,891 | $130,474 |
TOTAL PROVISION EXPENSE | $327,089 | $503,685 | $2,222,185 |
NON-INTEREST INCOME | |||
Fee Income | $440,108 | $896,745 | $3,446,475 |
Other Operating Income | $266,625 | $896,991 | $2,495,078 |
TOTAL NON-INTEREST INCOME | $706,733 | $1,793,736 | $5,941,553 |
NON-INTEREST EXPENSE | |||
Employee Compensation & Benefits | $741,411 | $1,537,255 | $6,013,421 |
Travel & Conference | $5,662 | $45,535 | $169,087 |
Office Occupancy | $72,695 | $147,870 | $594,890 |
Office Operations | $129,934 | $257,387 | $975,745 |
Educational & Promotional | $51,096 | $84,612 | $278,928 |
Loan Servicing | $316,174 | $616,783 | $2,454,832 |
Professional & Outside Services | $457,281 | $957,957 | $3,801,806 |
Member Insurance | $4,024 | $12,047 | $38,457 |
Operating Fees | $7,060 | $14,120 | $56,479 |
Miscellaneous | $26,585 | $24,890 | $155,151 |
TOTAL NON-INTEREST EXPENSE | $1,811,922 | $3,698,455 | $14,538,796 |
Net Non-Recurring Gain/(Loss) | -$1,757 | -$836 | $63,846 |
NET INCOME | $327,374 | $1,111,622 | $3,007,736 |
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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