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 November 2021
| Assets |
Total |
| Total Loans |
$295,594,326 |
| Less: Allowance for Loan Loss |
-$3,155,333 |
| NET LOANS |
$292,438,992 |
| 1st Mortgages to be sold |
$140,000 |
| Total Investments |
$99,540,823 |
| TOTAL EARNING ASSETS |
$392,119,815 |
| Total Cash |
$3,563,129 |
| Total Fixed Assets |
$6,519,767 |
| Total Other Assets |
$14,889,781 |
| TOTAL NON-EARNING ASSETS |
$21,409,549 |
| TOTAL ASSETS |
$417,092,492 |
Summary Balance Sheet (Liabilities and Equity) for branches as of November 2021
| Liabilities |
Total |
| Total Shares |
$383,941,210 |
| Notes Payable |
$0 |
| Other Liabilities |
$3,033,815 |
| TOTAL LIABILITIES |
$386,975,025 |
| TOTAL EQUITY |
$30,117,468 |
| TOTAL LIABILITIES AND EQUITY |
$417,092,492 |
Summary Income Sheet for branches as of November 2021
| Costs and Income |
Current Month |
Quarter-to-Date |
Year-to-Date |
| INTEREST INCOME |
| Interest on Loans |
$1,112,031 |
$2,250,664 |
$12,326,105 |
| Income from Investments |
$42,384 |
$82,667 |
$419,153 |
| TOTAL INTEREST INCOME |
$1,154,415 |
$2,333,332 |
$12,745,258 |
| INTEREST EXPENSE |
| Interest on Borrowed Money |
$1 |
$1 |
$1 |
| Dividends |
$37,721 |
$77,297 |
$451,904 |
| TOTAL INTEREST EXPENSE |
$37,722 |
$77,298 |
$451,905 |
| NET INTEREST INCOME |
$1,116,693 |
$2,256,034 |
$12,293,353 |
| Provision for Loan Losses |
$0 |
$0 |
$0 |
| Provision for Negative Share Losses |
$53,473 |
$97,587 |
$291,216 |
| TOTAL PROVISION EXPENSE |
$53,473 |
$97,587 |
$431,216 |
| NON-INTEREST INCOME |
| Fee Income |
$411,289 |
$829,629 |
$4,409,227 |
| Other Operating Income |
$263,307 |
$501,093 |
$4,128,747 |
| TOTAL NON-INTEREST INCOME |
$674,596 |
$1,330,722 |
$8,537,975 |
| NON-INTEREST EXPENSE |
| Employee Compensation & Benefits |
$666,327 |
$1,227,601 |
$6,803,126 |
| Travel & Conference |
$20,383 |
$35,950 |
$135,990 |
| Office Occupancy |
$53,425 |
$105,315 |
$630,609 |
| Office Operations |
$107,305 |
$225,590 |
$1,149,066 |
| Educational & Promotional |
$42,054 |
$84,504 |
$357,354 |
| Loan Servicing |
$255,975 |
$520,421 |
$2,930,147 |
| Professional & Outside Services |
$436,028 |
$855,635 |
$4,672,446 |
| Member Insurance |
$3,360 |
$6,720 |
$35,155 |
| Operating Fees |
$7,600 |
$15,200 |
$42,619 |
| Miscellaneous |
$32,034 |
$69,549 |
$338,544 |
| TOTAL NON-INTEREST EXPENSE |
$1,624,490 |
$3,146,484 |
$17,095,056 |
| Net Non-Recurring Gain/(Loss) |
$815 |
$16,059 |
$1,065,685 |
| NET INCOME |
$114,141 |
$358,744 |
$4,370,740 |
Download the 2020 Annual Report
