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 April 2022
Assets |
Total |
Total Loans |
$314,690,288 |
Less: Allowance for Loan Loss |
-$2,916,343 |
NET LOANS |
$311,773,944 |
1st Mortgages to be sold |
$0 |
Total Investments |
$93,503,580 |
TOTAL EARNING ASSETS |
$405,277,524 |
Total Cash |
$3,584,643 |
Total Fixed Assets |
$6,511,667 |
Total Other Assets |
$15,153,307 |
TOTAL NON-EARNING ASSETS |
$21,664,973 |
TOTAL ASSETS |
$430,527,141 |
Summary Balance Sheet (Liabilities and Equity) for branches as of April 2022
Liabilities |
Total |
Total Shares |
$399,741,492 |
Notes Payable |
$0 |
Other Liabilities |
$2,833,780 |
TOTAL LIABILITIES |
$402,575,272 |
TOTAL EQUITY |
$27,951,869 |
TOTAL LIABILITIES AND EQUITY |
$430,527,141 |
Summary Income Sheet for branches as of April 2022
Costs and Income |
Current Month |
Quarter-to-Date |
Year-to-Date |
INTEREST INCOME |
Interest on Loans |
$1,159,331 |
$1,159,331 |
$4,610,825 |
Income from Investments |
$68,370 |
$68,370 |
$238,009 |
TOTAL INTEREST INCOME |
$1,227,701 |
$1,227,701 |
$4,848,834 |
INTEREST EXPENSE |
Interest on Borrowed Money |
$0 |
$0 |
$0 |
Dividends |
$31,109 |
$31,109 |
$137,792 |
TOTAL INTEREST EXPENSE |
$31,109 |
$31,109 |
$137,792 |
NET INTEREST INCOME |
$1,196,592 |
$1,196,592 |
$4,711,042 |
Provision for Loan Losses |
$120,000 |
$120,000 |
$270,000 |
Provision for Negative Share Losses |
$25,168 |
$25,168 |
$124,766 |
TOTAL PROVISION EXPENSE |
$145,168 |
$145,168 |
$394,766 |
NON-INTEREST INCOME |
Fee Income |
$387,091 |
$387,091 |
$1,587,524 |
Other Operating Income |
$251,079 |
$251,079 |
$1,369,056 |
TOTAL NON-INTEREST INCOME |
$638,170 |
$638,170 |
$2,956,580 |
NON-INTEREST EXPENSE |
Employee Compensation & Benefits |
$583,381 |
$583,381 |
$2,369,335 |
Travel & Conference |
$13,658 |
$13,658 |
$60,101 |
Office Occupancy |
$60,209 |
$60,209 |
$235,103 |
Office Operations |
$93,655 |
$93,655 |
$428,313 |
Educational & Promotional |
$29,906 |
$29,906 |
$133,571 |
Loan Servicing |
$261,348 |
$261,348 |
$1,009,491 |
Professional & Outside Services |
$459,265 |
$459,265 |
$1,780,982 |
Member Insurance |
$3,360 |
$3,360 |
$14,184 |
Operating Fees |
$5,052 |
$5,052 |
$27,852 |
Miscellaneous |
$30,439 |
$30,439 |
$71,707 |
TOTAL NON-INTEREST EXPENSE |
$1,540,272 |
$1,540,272 |
$6,130,638 |
Net Non-Recurring Gain/(Loss) |
-$14,048 |
-$14,048 |
-$36,971 |
NET INCOME |
$135,274 |
$135,274 |
$1,105,247 |
Download the 2020 Annual Report