Our branches will be closing at 2:00 p.m. on Monday, December 24th in observance of Christmas. We will also be closed all day on Tuesday, December 25th.

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 October 2018
Assets Total
Total Loans $304,368,966
Less: Allowance for Loan Loss -$5,909,339
NET LOANS $298,459,626
1st Mortgages to be sold $472,220
Total Investments $22,888,661
TOTAL EARNING ASSETS $321,820,507
Total Cash $4,085,625
Total Fixed Assets $6,604,825
Total Other Assets $9,106,825
TOTAL NON-EARNING ASSETS $15,711,649
TOTAL ASSETS $341,617,782
Summary Balance Sheet (Liabilities and Equity) for branches as of October 2018
Liabilities Total
Total Shares $315,250,050
Notes Payable $0
Other Liabilities $1,903,230
TOTAL LIABILITIES $317,153,280
TOTAL EQUITY $24,464,502
TOTAL LIABILITIES AND EQUITY $341,617,782
Summary Income Sheet for branches as of October 2018
Costs and Income Current Month Quarter-to-Date Year-to-Date
INTEREST INCOME
Interest on Loans $1,445,546 $1,445,546 $13,972,022
Income from Investments $26,839 $26,839 $177,048
TOTAL INTEREST INCOME $1,472,385 $1,472,385 $14,149,070
INTEREST EXPENSE
Interest on Borrowed Money $72 $72 $14,461
Dividends $99,451 $99,451 $901,398
TOTAL INTEREST EXPENSE $99,524 $99,524 $915,859
NET INTEREST INCOME $1,372,862 $1,372,862 $13,233,211
Provision for Loan Losses $335,000 $335,000 $3,130,000
Provision for Negative Share Losses -$14,606 -$14,606 $142,425
TOTAL PROVISION EXPENSE $349,606 $349,606 $3,272,425
NON-INTEREST INCOME
Fee Income $392,719 $392,719 $4,001,602
Other Operating Income $216,877 $216,877 $2,360,667
TOTAL NON-INTEREST INCOME $609,596 $609,596 $6,362,269
NON-INTEREST EXPENSE
Employee Compensation & Benefits $638,263 $638,263 $6,201,310
Travel & Conference $16,313 $16,313 $212,198
Office Occupancy $53,650 $53,650 $609,958
Office Operations $126,632 $126,632 $1,263,945
Educational & Promotional $29,074 $29,074 $457,280
Loan Servicing $230,125 $230,125 $2,176,759
Professional & Outside Services $472,675 $472,675 $4,286,606
Member Insurance $3,936 $3,936 $35,160
Operating Fees $1,750 $1,750 $17,500
Miscellaneous $24,750 $24,750 $332,847
TOTAL NON-INTEREST EXPENSE $1,597,167 $1,597,167 $15,593,565
Net Non-Recurring Gain/(Loss) $12,330 $12,330 $260,535
NET INCOME $48,015 $48,015 $990,024
Download the 2017 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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