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 | $387,767,730 |
Less: Allowance for Loan Loss | -$2,847,960 |
NET LOANS | $384,919,770 |
1st Mortgages to be sold | $0 |
Total Investments | $61,673,463 |
TOTAL EARNING ASSETS | $446,593,233 |
Total Cash | $4,142,256 |
Total Fixed Assets | $7,633,081 |
Total Other Assets | $14,548,457 |
TOTAL NON-EARNING ASSETS | $26,323,794 |
TOTAL ASSETS | $477,059,283 |
Liabilities | Total |
---|---|
Total Shares | $414,781,924 |
Notes Payable | $16,600,000 |
Other Liabilities | $12,957,617 |
TOTAL LIABILITIES | $444,339,541 |
TOTAL EQUITY | $32,719,742 |
TOTAL LIABILITIES AND EQUITY | $477,059,283 |
Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
---|---|---|---|
INTEREST INCOME | |||
Interest on Loans | $2,089,018 | $4,138,412 | $10,359,044 |
Income from Investments | $154,365 | $305,451 | $672,214 |
TOTAL INTEREST INCOME | $2,243,383 | $4,443,864 | $11,031,258 |
INTEREST EXPENSE | |||
Interest on Borrowed Money | $62,855 | $124,704 | $362,729 |
Dividends | $437,568 | $876,841 | $2,134,902 |
TOTAL INTEREST EXPENSE | $500,423 | $1,001,545 | $2,497,630 |
NET INTEREST INCOME | $1,742,961 | $3,442,318 | $8,533,627 |
Provision for Loan Losses | $183,414 | $383,414 | $1,170,547 |
Provision for Negative Share Losses | $2,430 | $11,003 | $69,757 |
TOTAL PROVISION EXPENSE | $185,844 | $394,417 | $1,240,304 |
NON-INTEREST INCOME | |||
Fee Income | $436,615 | $842,482 | $2,129,089 |
Other Operating Income | $257,005 | $510,640 | $1,354,727 |
TOTAL NON-INTEREST INCOME | $693,620 | $1,353,122 | $3,483,816 |
NON-INTEREST EXPENSE | |||
Employee Compensation & Benefits | $755,074 | $1,523,624 | $3,753,329 |
Travel & Conference | $19,825 | $49,671 | $97,289 |
Office Occupancy | $66,839 | $144,136 | $364,363 |
Office Operations | $117,842 | $240,582 | $603,604 |
Educational & Promotional | $27,904 | $65,260 | $160,375 |
Loan Servicing | $288,300 | $606,286 | $1,513,981 |
Professional & Outside Services | $489,076 | $976,758 | $2,384,429 |
Member Insurance | $4,024 | $9,417 | $22,385 |
Operating Fees | $7,060 | $13,804 | $35,299 |
Miscellaneous | -$55,792 | -$17,468 | $122,199 |
TOTAL NON-INTEREST EXPENSE | $1,720,152 | $3,612,070 | $9,057,254 |
Net Non-Recurring Gain/(Loss) | -$12,177 | -$8,069 | $64,682 |
NET INCOME | $518,407 | $780,885 | $1,784,568 |
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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