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Financial Information

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 September 2022
Assets Total
Total Loans $337,688,096
Less: Allowance for Loan Loss -$3,029,958
NET LOANS $334,658,138
1st Mortgages to be sold $0
Total Investments $63,173,767
TOTAL EARNING ASSETS $397,831,905
Total Cash $3,068,601
Total Fixed Assets $7,158,326
Total Other Assets $15,281,313
TOTAL NON-EARNING ASSETS $22,439,639
TOTAL ASSETS $423,340,145
Summary Balance Sheet (Liabilities and Equity) for branches as of September 2022
Liabilities Total
Total Shares $385,309,570
Notes Payable $8,042,222
Other Liabilities $3,359,496
TOTAL LIABILITIES $396,711,289
TOTAL EQUITY $26,628,856
TOTAL LIABILITIES AND EQUITY $423,340,145
Summary Income Sheet for branches as of September 2022
Costs and Income Current Month Quarter-to-Date Year-to-Date
INTEREST INCOME
Interest on Loans $1,383,844 $4,081,100 $11,146,615
Income from Investments $150,057 $395,026 $831,510
TOTAL INTEREST INCOME $1,533,902 $4,476,126 $11,978,125
INTEREST EXPENSE
Interest on Borrowed Money $35,166 $98,501 $137,293
Dividends $33,916 $105,081 $304,468
TOTAL INTEREST EXPENSE $69,083 $203,582 $441,761
NET INTEREST INCOME $1,464,819 $4,272,544 $11,536,365
Provision for Loan Losses $150,000 $390,000 $930,000
Provision for Negative Share Losses $30,929 $102,189 $320,497
TOTAL PROVISION EXPENSE $180,929 $492,189 $1,250,497
NON-INTEREST INCOME
Fee Income $437,661 $1,331,953 $3,766,477
Other Operating Income $248,025 $818,733 $2,699,370
TOTAL NON-INTEREST INCOME $685,687 $2,150,686 $6,465,847
NON-INTEREST EXPENSE
Employee Compensation & Benefits $780,484 $2,045,296 $5,633,644
Travel & Conference $16,382 $36,634 $135,179
Office Occupancy $52,516 $164,677 $516,474
Office Operations $102,009 $334,147 $968,659
Educational & Promotional $24,681 $109,177 $310,989
Loan Servicing $269,001 $816,760 $2,378,137
Professional & Outside Services $437,249 $1,352,776 $3,987,905
Member Insurance $3,360 $10,079 $30,983
Operating Fees $5,052 $15,157 $53,114
Miscellaneous $52,360 $126,611 $277,188
TOTAL NON-INTEREST EXPENSE $1,743,093 $5,011,316 $14,292,272
Net Non-Recurring Gain/(Loss) $2,286 $18,520 -$35,503
NET INCOME $228,770 $938,245 $2,423,940
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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