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 | $386,011,323 |
Less: Allowance for Loan Loss | -$3,001,879 |
NET LOANS | $383,009,444 |
1st Mortgages to be sold | $0 |
Total Investments | $52,558,853 |
TOTAL EARNING ASSETS | $435,568,297 |
Total Cash | $3,401,941 |
Total Fixed Assets | $7,578,141 |
Total Other Assets | $23,340,087 |
TOTAL NON-EARNING ASSETS | $34,320,170 |
TOTAL ASSETS | $473,290,409 |
Liabilities | Total |
---|---|
Total Shares | $413,083,880 |
Notes Payable | $16,600,000 |
Other Liabilities | $10,395,122 |
TOTAL LIABILITIES | $440,079,002 |
TOTAL EQUITY | $33,211,406 |
TOTAL LIABILITIES AND EQUITY | $473,290,409 |
Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
---|---|---|---|
INTEREST INCOME | |||
Interest on Loans | $2,051,129 | $6,189,542 | $12,410,173 |
Income from Investments | $135,547 | $440,998 | $807,761 |
TOTAL INTEREST INCOME | $2,186,676 | $6,630,540 | $13,217,934 |
INTEREST EXPENSE | |||
Interest on Borrowed Money | $61,849 | $186,553 | $424,578 |
Dividends | $415,999 | $1,292,840 | $2,550,901 |
TOTAL INTEREST EXPENSE | $477,848 | $1,479,394 | $2,975,479 |
NET INTEREST INCOME | $1,708,828 | $5,151,147 | $10,242,455 |
Provision for Loan Losses | $457,371 | $840,784 | $1,627,917 |
Provision for Negative Share Losses | $20,826 | $31,829 | $90,583 |
TOTAL PROVISION EXPENSE | $478,196 | $872,613 | $1,718,500 |
NON-INTEREST INCOME | |||
Fee Income | $420,641 | $1,263,123 | $2,549,730 |
Other Operating Income | $243,360 | $754,001 | $1,598,087 |
TOTAL NON-INTEREST INCOME | $664,002 | $2,017,123 | $4,147,817 |
NON-INTEREST EXPENSE | |||
Employee Compensation & Benefits | $722,838 | $2,246,462 | $4,476,167 |
Travel & Conference | $26,263 | $75,934 | $123,552 |
Office Occupancy | $82,657 | $226,792 | $447,020 |
Office Operations | $114,753 | $355,335 | $718,357 |
Educational & Promotional | $33,941 | $99,202 | $194,316 |
Loan Servicing | $324,068 | $930,354 | $1,838,049 |
Professional & Outside Services | $459,420 | $1,436,178 | $2,843,849 |
Member Insurance | $4,024 | $13,442 | $26,410 |
Operating Fees | $7,060 | $20,863 | $42,359 |
Miscellaneous | $8,063 | -$9,406 | $130,262 |
TOTAL NON-INTEREST EXPENSE | $1,783,087 | $5,395,157 | $10,840,341 |
Net Non-Recurring Gain/(Loss) | $0 | -$8,069 | $64,682 |
NET INCOME | $111,546 | $892,431 | $1,896,114 |
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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