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 | $386,276,110 |
| Less: Allowance for Loan Loss | -$3,127,957 |
| NET LOANS | $383,148,153 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $45,343,572 |
| TOTAL EARNING ASSETS | $428,491,725 |
| Total Cash | $4,003,564 |
| Total Fixed Assets | $7,731,245 |
| Total Other Assets | $27,203,681 |
| TOTAL NON-EARNING ASSETS | $34,934,926 |
| TOTAL ASSETS | $467,430,215 |
| Liabilities | Total |
|---|---|
| Total Shares | $389,162,896 |
| Notes Payable | $36,810,437 |
| Other Liabilities | $9,562,559 |
| TOTAL LIABILITIES | $435,535,891 |
| TOTAL EQUITY | $31,894,324 |
| TOTAL LIABILITIES AND EQUITY | $467,430,215 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $1,986,053 | $6,004,933 | $16,963,442 |
| Income from Investments | $108,993 | $333,725 | $935,886 |
| TOTAL INTEREST INCOME | $2,095,046 | $6,338,658 | $17,899,328 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $174,066 | $597,491 | $1,670,818 |
| Dividends | $321,295 | $837,953 | $1,755,972 |
| TOTAL INTEREST EXPENSE | $495,361 | $1,435,444 | $3,426,789 |
| NET INTEREST INCOME | $1,599,685 | $4,903,214 | $14,472,538 |
| Provision for Loan Losses | $453,442 | $845,494 | $3,410,465 |
| Provision for Negative Share Losses | $35,485 | $115,547 | $285,070 |
| TOTAL PROVISION EXPENSE | $488,927 | $961,041 | $3,695,535 |
| NON-INTEREST INCOME | |||
| Fee Income | $458,572 | $1,423,218 | $3,919,809 |
| Other Operating Income | $217,968 | $845,612 | $2,462,835 |
| TOTAL NON-INTEREST INCOME | $676,540 | $2,268,829 | $6,382,644 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $693,782 | $2,293,657 | $6,485,226 |
| Travel & Conference | $15,155 | $43,805 | $140,799 |
| Office Occupancy | $87,236 | $234,531 | $653,680 |
| Office Operations | $109,569 | $348,820 | $1,020,307 |
| Educational & Promotional | $22,547 | $106,260 | $334,560 |
| Loan Servicing | $328,219 | $938,794 | $2,569,515 |
| Professional & Outside Services | $449,161 | $1,412,161 | $4,289,151 |
| Member Insurance | $4,024 | $12,073 | $35,785 |
| Operating Fees | $6,323 | $19,903 | $60,643 |
| Miscellaneous | $11,369 | $89,650 | $370,298 |
| TOTAL NON-INTEREST EXPENSE | $1,727,385 | $5,499,653 | $15,959,963 |
| Net Non-Recurring Gain/(Loss) | $0 | $847 | $17,088 |
| NET INCOME | $59,914 | $712,196 | $1,216,773 |
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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