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 | $350,210,563 |
Less: Allowance for Loan Loss | -$3,297,252 |
NET LOANS | $346,913,311 |
1st Mortgages to be sold | $0 |
Total Investments | $53,576,266 |
TOTAL EARNING ASSETS | $400,489,577 |
Total Cash | $4,163,330 |
Total Fixed Assets | $7,925,821 |
Total Other Assets | $14,019,871 |
TOTAL NON-EARNING ASSETS | $21,945,692 |
TOTAL ASSETS | $426,598,600 |
Liabilities | Total |
---|---|
Total Shares | $355,219,877 |
Notes Payable | $38,350,086 |
Other Liabilities | $4,166,348 |
TOTAL LIABILITIES | $397,736,312 |
TOTAL EQUITY | $28,862,288 |
TOTAL LIABILITIES AND EQUITY | $426,598,600 |
Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
---|---|---|---|
INTEREST INCOME | |||
Interest on Loans | $1,800,067 | $1,800,067 | $1,800,067 |
Income from Investments | $87,392 | $87,392 | $87,392 |
TOTAL INTEREST INCOME | $1,887,460 | $1,887,460 | $1,887,460 |
INTEREST EXPENSE | |||
Interest on Borrowed Money | $167,309 | $167,309 | $167,309 |
Dividends | $135,888 | $135,888 | $135,888 |
TOTAL INTEREST EXPENSE | $303,197 | $303,197 | $303,197 |
NET INTEREST INCOME | $1,584,262 | $1,584,262 | $1,584,262 |
Provision for Loan Losses | $330,791 | $330,791 | $330,791 |
Provision for Negative Share Losses | $21,583 | $21,583 | $21,583 |
TOTAL PROVISION EXPENSE | $352,373 | $352,373 | $352,373 |
NON-INTEREST INCOME | |||
Fee Income | $441,523 | $441,523 | $441,523 |
Other Operating Income | $203,659 | $203,659 | $203,659 |
TOTAL NON-INTEREST INCOME | $645,181 | $645,181 | $645,181 |
NON-INTEREST EXPENSE | |||
Employee Compensation & Benefits | $761,058 | $761,058 | $761,058 |
Travel & Conference | $15,551 | $15,551 | $15,551 |
Office Occupancy | $70,033 | $70,033 | $70,033 |
Office Operations | $118,100 | $118,100 | $118,100 |
Educational & Promotional | $31,518 | $31,518 | $31,518 |
Loan Servicing | $224,323 | $224,323 | $224,323 |
Professional & Outside Services | $483,118 | $483,118 | $483,118 |
Member Insurance | $4,255 | $4,255 | $4,255 |
Operating Fees | $6,790 | $6,790 | $6,790 |
Miscellaneous | $46,747 | $46,747 | $46,747 |
TOTAL NON-INTEREST EXPENSE | $1,761,492 | $1,761,492 | $1,761,492 |
Net Non-Recurring Gain/(Loss) | $729 | $729 | $729 |
NET INCOME | $116,307 | $116,307 | $116,307 |
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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