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 | $351,089,818 |
| Less: Allowance for Loan Loss | -$3,214,516 |
| NET LOANS | $347,875,302 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $60,966,273 |
| TOTAL EARNING ASSETS | $408,841,575 |
| Total Cash | $4,265,810 |
| Total Fixed Assets | $7,857,418 |
| Total Other Assets | $15,130,657 |
| TOTAL NON-EARNING ASSETS | $22,988,075 |
| TOTAL ASSETS | $436,095,460 |
| Liabilities | Total |
|---|---|
| Total Shares | $367,872,109 |
| Notes Payable | $35,831,965 |
| Other Liabilities | $4,071,551 |
| TOTAL LIABILITIES | $407,775,625 |
| TOTAL EQUITY | $28,319,835 |
| TOTAL LIABILITIES AND EQUITY | $436,095,460 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $1,698,915 | $3,498,982 | $3,498,982 |
| Income from Investments | $108,461 | $195,853 | $195,853 |
| TOTAL INTEREST INCOME | $1,807,375 | $3,694,835 | $3,694,835 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $154,219 | $321,529 | $321,529 |
| Dividends | $131,868 | $267,757 | $267,757 |
| TOTAL INTEREST EXPENSE | $286,088 | $589,285 | $589,285 |
| NET INTEREST INCOME | $1,521,288 | $3,105,550 | $3,105,550 |
| Provision for Loan Losses | $646,396 | $977,187 | $977,187 |
| Provision for Negative Share Losses | $22,057 | $43,639 | $43,639 |
| TOTAL PROVISION EXPENSE | $668,453 | $1,020,826 | $1,020,826 |
| NON-INTEREST INCOME | |||
| Fee Income | $394,724 | $836,246 | $836,246 |
| Other Operating Income | $284,863 | $488,522 | $488,522 |
| TOTAL NON-INTEREST INCOME | $679,587 | $1,324,768 | $1,324,768 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $646,460 | $1,407,518 | $1,407,518 |
| Travel & Conference | $16,614 | $32,165 | $32,165 |
| Office Occupancy | $75,896 | $145,929 | $145,929 |
| Office Operations | $111,709 | $229,809 | $229,809 |
| Educational & Promotional | $47,924 | $79,442 | $79,442 |
| Loan Servicing | $230,483 | $454,806 | $454,806 |
| Professional & Outside Services | $487,921 | $971,039 | $971,039 |
| Member Insurance | $3,360 | $7,615 | $7,615 |
| Operating Fees | $6,790 | $13,580 | $13,580 |
| Miscellaneous | $134,119 | $180,866 | $180,866 |
| TOTAL NON-INTEREST EXPENSE | $1,761,277 | $3,522,769 | $3,522,769 |
| Net Non-Recurring Gain/(Loss) | $0 | $729 | $729 |
| NET INCOME | -$228,855 | -$112,548 | -$112,548 |
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.
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