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 | $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 |
| 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 |
| 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.
