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:
| Assets | Total |
|---|---|
| Total Loans | $390,944,108 |
| Less: Allowance for Loan Loss | -$2,986,274 |
| NET LOANS | $387,957,834 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $64,395,674 |
| TOTAL EARNING ASSETS | $452,353,508 |
| Total Cash | $4,137,789 |
| Total Fixed Assets | $7,607,893 |
| Total Other Assets | $19,134,730 |
| TOTAL NON-EARNING ASSETS | $26,742,623 |
| TOTAL ASSETS | $483,233,920 |
| Liabilities | Total |
|---|---|
| Total Shares | $422,398,082 |
| Notes Payable | $16,638,726 |
| Other Liabilities | $12,981,859 |
| TOTAL LIABILITIES | $452,018,667 |
| TOTAL EQUITY | $31,215,253 |
| TOTAL LIABILITIES AND EQUITY | $483,233,920 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $1,944,097 | $4,051,338 | $4,051,338 |
| Income from Investments | $124,185 | $224,073 | $224,073 |
| TOTAL INTEREST INCOME | $2,068,282 | $4,275,411 | $4,275,411 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $72,225 | $175,169 | $175,169 |
| Dividends | $394,946 | $814,501 | $814,501 |
| TOTAL INTEREST EXPENSE | $467,171 | $989,670 | $989,670 |
| NET INTEREST INCOME | $1,601,110 | $3,285,740 | $3,285,740 |
| Provision for Loan Losses | $254,982 | $517,812 | $517,812 |
| Provision for Negative Share Losses | $14,150 | $52,611 | $52,611 |
| TOTAL PROVISION EXPENSE | $269,132 | $570,423 | $570,423 |
| NON-INTEREST INCOME | |||
| Fee Income | $415,052 | $871,379 | $871,379 |
| Other Operating Income | $282,878 | $518,873 | $518,873 |
| TOTAL NON-INTEREST INCOME | $697,930 | $1,390,251 | $1,390,251 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $682,227 | $1,483,593 | $1,483,593 |
| Travel & Conference | $12,822 | $27,700 | $27,700 |
| Office Occupancy | $73,432 | $153,038 | $153,038 |
| Office Operations | $125,239 | $254,121 | $254,121 |
| Educational & Promotional | $24,706 | $54,442 | $54,442 |
| Loan Servicing | $302,140 | $600,560 | $600,560 |
| Professional & Outside Services | $457,874 | $933,672 | $933,672 |
| Member Insurance | $4,024 | $8,944 | $8,944 |
| Operating Fees | $7,165 | $14,330 | $14,330 |
| Miscellaneous | $56,077 | $45,371 | $45,371 |
| TOTAL NON-INTEREST EXPENSE | $1,745,705 | $3,575,771 | $3,575,771 |
| Net Non-Recurring Gain/(Loss) | $20,528 | $21,364 | $21,364 |
| NET INCOME | $304,730 | $551,161 | $551,161 |
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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