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
