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 February 2021
| Assets |
Total |
| Total Loans |
$295,387,320 |
| Less: Allowance for Loan Loss |
-$3,950,309 |
| NET LOANS |
$291,437,011 |
| 1st Mortgages to be sold |
$0 |
| Total Investments |
$83,139,026 |
| TOTAL EARNING ASSETS |
$374,576,037 |
| Total Cash |
$2,913,596 |
| Total Fixed Assets |
$6,464,690 |
| Total Other Assets |
$12,186,340 |
| TOTAL NON-EARNING ASSETS |
$18,651,030 |
| TOTAL ASSETS |
$396,140,663 |
Summary Balance Sheet (Liabilities and Equity) for branches as of February 2021
| Liabilities |
Total |
| Total Shares |
$367,242,441 |
| Notes Payable |
$0 |
| Other Liabilities |
$2,571,390 |
| TOTAL LIABILITIES |
$369,813,832 |
| TOTAL EQUITY |
$26,326,832 |
| TOTAL LIABILITIES AND EQUITY |
$396,140,663 |
Summary Income Sheet for branches as of February 2021
| Costs and Income |
Current Month |
Quarter-to-Date |
Year-to-Date |
| INTEREST INCOME |
| Interest on Loans |
$1,070,022 |
$2,245,815 |
$2,245,815 |
| Income from Investments |
$11,560 |
$19,363 |
$19,363 |
| TOTAL INTEREST INCOME |
$1,081,582 |
$2,265,178 |
$2,265,178 |
| INTEREST EXPENSE |
| Interest on Borrowed Money |
$0 |
$0 |
$0 |
| Dividends |
$39,358 |
$84,370 |
$84,370 |
| TOTAL INTEREST EXPENSE |
$39,358 |
$84,370 |
$84,370 |
| NET INTEREST INCOME |
$1,042,224 |
$2,180,809 |
$2,180,809 |
| Provision for Loan Losses |
$170,000 |
$340,000 |
$340,000 |
| Provision for Negative Share Losses |
$15,227 |
$16,124 |
$16,124 |
| TOTAL PROVISION EXPENSE |
$185,227 |
$356,124 |
$356,124 |
| NON-INTEREST INCOME |
| Fee Income |
$372,653 |
$747,520 |
$747,520 |
| Other Operating Income |
$267,683 |
$516,784 |
$516,784 |
| TOTAL NON-INTEREST INCOME |
$640,335 |
$1,264,303 |
$1,264,303 |
| NON-INTEREST EXPENSE |
| Employee Compensation & Benefits |
$623,729 |
$1,180,127 |
$1,180,127 |
| Travel & Conference |
$5,180 |
$13,950 |
$13,950 |
| Office Occupancy |
$56,916 |
$113,093 |
$113,093 |
| Office Operations |
$81,224 |
$179,438 |
$179,438 |
| Educational & Promotional |
$18,129 |
$36,483 |
$36,483 |
| Loan Servicing |
$262,632 |
$506,585 |
$506,585 |
| Professional & Outside Services |
$376,957 |
$765,784 |
$765,784 |
| Member Insurance |
$2,086 |
$4,917 |
$4,917 |
| Operating Fees |
$1,750 |
$3,500 |
$3,500 |
| Miscellaneous |
$31,110 |
$61,973 |
$61,973 |
| TOTAL NON-INTEREST EXPENSE |
$1,459,712 |
$2,865,851 |
$2,865,851 |
| Net Non-Recurring Gain/(Loss) |
-$18,372 |
-$18,372 |
-$18,372 |
| NET INCOME |
$19,247 |
$204,765 |
$204,765 |
Download the 2020 Annual Report
