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 September 2022
| Assets |
Total |
| Total Loans |
$337,688,096 |
| Less: Allowance for Loan Loss |
-$3,029,958 |
| NET LOANS |
$334,658,138 |
| 1st Mortgages to be sold |
$0 |
| Total Investments |
$63,173,767 |
| TOTAL EARNING ASSETS |
$397,831,905 |
| Total Cash |
$3,068,601 |
| Total Fixed Assets |
$7,158,326 |
| Total Other Assets |
$15,281,313 |
| TOTAL NON-EARNING ASSETS |
$22,439,639 |
| TOTAL ASSETS |
$423,340,145 |
Summary Balance Sheet (Liabilities and Equity) for branches as of September 2022
| Liabilities |
Total |
| Total Shares |
$385,309,570 |
| Notes Payable |
$8,042,222 |
| Other Liabilities |
$3,359,496 |
| TOTAL LIABILITIES |
$396,711,289 |
| TOTAL EQUITY |
$26,628,856 |
| TOTAL LIABILITIES AND EQUITY |
$423,340,145 |
Summary Income Sheet for branches as of September 2022
| Costs and Income |
Current Month |
Quarter-to-Date |
Year-to-Date |
| INTEREST INCOME |
| Interest on Loans |
$1,383,844 |
$4,081,100 |
$11,146,615 |
| Income from Investments |
$150,057 |
$395,026 |
$831,510 |
| TOTAL INTEREST INCOME |
$1,533,902 |
$4,476,126 |
$11,978,125 |
| INTEREST EXPENSE |
| Interest on Borrowed Money |
$35,166 |
$98,501 |
$137,293 |
| Dividends |
$33,916 |
$105,081 |
$304,468 |
| TOTAL INTEREST EXPENSE |
$69,083 |
$203,582 |
$441,761 |
| NET INTEREST INCOME |
$1,464,819 |
$4,272,544 |
$11,536,365 |
| Provision for Loan Losses |
$150,000 |
$390,000 |
$930,000 |
| Provision for Negative Share Losses |
$30,929 |
$102,189 |
$320,497 |
| TOTAL PROVISION EXPENSE |
$180,929 |
$492,189 |
$1,250,497 |
| NON-INTEREST INCOME |
| Fee Income |
$437,661 |
$1,331,953 |
$3,766,477 |
| Other Operating Income |
$248,025 |
$818,733 |
$2,699,370 |
| TOTAL NON-INTEREST INCOME |
$685,687 |
$2,150,686 |
$6,465,847 |
| NON-INTEREST EXPENSE |
| Employee Compensation & Benefits |
$780,484 |
$2,045,296 |
$5,633,644 |
| Travel & Conference |
$16,382 |
$36,634 |
$135,179 |
| Office Occupancy |
$52,516 |
$164,677 |
$516,474 |
| Office Operations |
$102,009 |
$334,147 |
$968,659 |
| Educational & Promotional |
$24,681 |
$109,177 |
$310,989 |
| Loan Servicing |
$269,001 |
$816,760 |
$2,378,137 |
| Professional & Outside Services |
$437,249 |
$1,352,776 |
$3,987,905 |
| Member Insurance |
$3,360 |
$10,079 |
$30,983 |
| Operating Fees |
$5,052 |
$15,157 |
$53,114 |
| Miscellaneous |
$52,360 |
$126,611 |
$277,188 |
| TOTAL NON-INTEREST EXPENSE |
$1,743,093 |
$5,011,316 |
$14,292,272 |
| Net Non-Recurring Gain/(Loss) |
$2,286 |
$18,520 |
-$35,503 |
| NET INCOME |
$228,770 |
$938,245 |
$2,423,940 |
Download the 2021 Annual Report
