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
