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 | $295,387,320 |
| Less: Allowance for Loan Loss | -$3,950,309 |
| NET LOANS | $291,437,011 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $83,139,026 |
| TOTAL EARNING ASSETS | $374,576,037 |
| Total Cash | $2,913,596 |
| Total Fixed Assets | $6,464,690 |
| Total Other Assets | $12,186,340 |
| TOTAL NON-EARNING ASSETS | $18,651,030 |
| TOTAL ASSETS | $396,140,663 |
| Liabilities | Total |
|---|---|
| Total Shares | $367,242,441 |
| Notes Payable | $0 |
| Other Liabilities | $2,571,390 |
| TOTAL LIABILITIES | $369,813,832 |
| TOTAL EQUITY | $26,326,832 |
| TOTAL LIABILITIES AND EQUITY | $396,140,663 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $1,070,022 | $2,245,815 | $2,245,815 |
| Income from Investments | $11,560 | $19,363 | $19,363 |
| TOTAL INTEREST INCOME | $1,081,582 | $2,265,178 | $2,265,178 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $0 | $0 | $0 |
| Dividends | $39,358 | $84,370 | $84,370 |
| TOTAL INTEREST EXPENSE | $39,358 | $84,370 | $84,370 |
| NET INTEREST INCOME | $1,042,224 | $2,180,809 | $2,180,809 |
| Provision for Loan Losses | $170,000 | $340,000 | $340,000 |
| Provision for Negative Share Losses | $15,227 | $16,124 | $16,124 |
| TOTAL PROVISION EXPENSE | $185,227 | $356,124 | $356,124 |
| NON-INTEREST INCOME | |||
| Fee Income | $372,653 | $747,520 | $747,520 |
| Other Operating Income | $267,683 | $516,784 | $516,784 |
| TOTAL NON-INTEREST INCOME | $640,335 | $1,264,303 | $1,264,303 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $623,729 | $1,180,127 | $1,180,127 |
| Travel & Conference | $5,180 | $13,950 | $13,950 |
| Office Occupancy | $56,916 | $113,093 | $113,093 |
| Office Operations | $81,224 | $179,438 | $179,438 |
| Educational & Promotional | $18,129 | $36,483 | $36,483 |
| Loan Servicing | $262,632 | $506,585 | $506,585 |
| Professional & Outside Services | $376,957 | $765,784 | $765,784 |
| Member Insurance | $2,086 | $4,917 | $4,917 |
| Operating Fees | $1,750 | $3,500 | $3,500 |
| Miscellaneous | $31,110 | $61,973 | $61,973 |
| TOTAL NON-INTEREST EXPENSE | $1,459,712 | $2,865,851 | $2,865,851 |
| Net Non-Recurring Gain/(Loss) | -$18,372 | -$18,372 | -$18,372 |
| NET INCOME | $19,247 | $204,765 | $204,765 |
Download the 2020 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.
