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