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Financial Information

 

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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 January 2023
Assets Total
Total Loans $338,788,410
Less: Allowance for Loan Loss -$3,730,385
NET LOANS $335,058,025
1st Mortgages to be sold $0
Total Investments $57,952,948
TOTAL EARNING ASSETS $393,010,973
Total Cash $3,418,065
Total Fixed Assets $7,496,675
Total Other Assets $15,699,102
TOTAL NON-EARNING ASSETS $23,195,777
TOTAL ASSETS $419,624,815
Summary Balance Sheet (Liabilities and Equity) for branches as of January 2023
Liabilities Total
Total Shares $368,467,289
Notes Payable $19,348,936
Other Liabilities $3,752,411
TOTAL LIABILITIES $391,568,635
TOTAL EQUITY $28,056,180
TOTAL LIABILITIES AND EQUITY $419,624,815
Summary Income Sheet for branches as of January 2023
Costs and Income Current Month Quarter-to-Date Year-to-Date
INTEREST INCOME
Interest on Loans $1,521,995 $1,521,995 $1,521,995
Income from Investments $100,505 $100,505 $100,505
TOTAL INTEREST INCOME $1,622,500 $1,622,500 $1,622,500
INTEREST EXPENSE
Interest on Borrowed Money $61,440 $61,440 $61,440
Dividends $60,816 $60,816 $60,816
TOTAL INTEREST EXPENSE $122,257 $122,257 $122,257
NET INTEREST INCOME $1,500,244 $1,500,244 $1,500,244
Provision for Loan Losses $292,316 $292,316 $292,316
Provision for Negative Share Losses $20,482 $20,482 $20,482
TOTAL PROVISION EXPENSE $312,798 $312,798 $312,798
NON-INTEREST INCOME
Fee Income $424,766 $424,766 $424,766
Other Operating Income $211,050 $211,050 $211,050
TOTAL NON-INTEREST INCOME $635,816 $635,816 $635,816
NON-INTEREST EXPENSE
Employee Compensation & Benefits $646,735 $646,735 $646,735
Travel & Conference $16,834 $16,834 $16,834
Office Occupancy $50,874 $58,489 $58,489
Office Operations $110,332 $110,332 $110,332
Educational & Promotional $32,888 $32,888 $32,888
Loan Servicing $321,961 $321,961 $321,961
Professional & Outside Services $471,347 $471,347 $471,347
Member Insurance $4,255 $4,255 $4,255
Operating Fees $5,840 $5,840 $5,840
Miscellaneous $8,386 $8,386 $8,386
TOTAL NON-INTEREST EXPENSE $1,677,067 $1,677,067 $1,677,067
Net Non-Recurring Gain/(Loss) $0 $0 $0
NET INCOME $146,195 $146,195 $146,195
Download the 2021 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.

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