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Financial Information

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:

Summary Balance Sheet (Assets) for branches as of April 2022
Assets Total
Total Loans $314,690,288
Less: Allowance for Loan Loss -$2,916,343
NET LOANS $311,773,944
1st Mortgages to be sold $0
Total Investments $93,503,580
TOTAL EARNING ASSETS $405,277,524
Total Cash $3,584,643
Total Fixed Assets $6,511,667
Total Other Assets $15,153,307
TOTAL NON-EARNING ASSETS $21,664,973
TOTAL ASSETS $430,527,141
Summary Balance Sheet (Liabilities and Equity) for branches as of April 2022
Liabilities Total
Total Shares $399,741,492
Notes Payable $0
Other Liabilities $2,833,780
TOTAL LIABILITIES $402,575,272
TOTAL EQUITY $27,951,869
TOTAL LIABILITIES AND EQUITY $430,527,141
Summary Income Sheet for branches as of April 2022
Costs and Income Current Month Quarter-to-Date Year-to-Date
INTEREST INCOME
Interest on Loans $1,159,331 $1,159,331 $4,610,825
Income from Investments $68,370 $68,370 $238,009
TOTAL INTEREST INCOME $1,227,701 $1,227,701 $4,848,834
INTEREST EXPENSE
Interest on Borrowed Money $0 $0 $0
Dividends $31,109 $31,109 $137,792
TOTAL INTEREST EXPENSE $31,109 $31,109 $137,792
NET INTEREST INCOME $1,196,592 $1,196,592 $4,711,042
Provision for Loan Losses $120,000 $120,000 $270,000
Provision for Negative Share Losses $25,168 $25,168 $124,766
TOTAL PROVISION EXPENSE $145,168 $145,168 $394,766
NON-INTEREST INCOME
Fee Income $387,091 $387,091 $1,587,524
Other Operating Income $251,079 $251,079 $1,369,056
TOTAL NON-INTEREST INCOME $638,170 $638,170 $2,956,580
NON-INTEREST EXPENSE
Employee Compensation & Benefits $583,381 $583,381 $2,369,335
Travel & Conference $13,658 $13,658 $60,101
Office Occupancy $60,209 $60,209 $235,103
Office Operations $93,655 $93,655 $428,313
Educational & Promotional $29,906 $29,906 $133,571
Loan Servicing $261,348 $261,348 $1,009,491
Professional & Outside Services $459,265 $459,265 $1,780,982
Member Insurance $3,360 $3,360 $14,184
Operating Fees $5,052 $5,052 $27,852
Miscellaneous $30,439 $30,439 $71,707
TOTAL NON-INTEREST EXPENSE $1,540,272 $1,540,272 $6,130,638
Net Non-Recurring Gain/(Loss) -$14,048 -$14,048 -$36,971
NET INCOME $135,274 $135,274 $1,105,247
Download the 2020 Annual Report

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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