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 | $392,925,208 |
| Less: Allowance for Loan Loss | -$3,017,674 |
| NET LOANS | $389,907,534 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $51,933,268 |
| TOTAL EARNING ASSETS | $441,840,802 |
| Total Cash | $4,036,882 |
| Total Fixed Assets | $7,654,639 |
| Total Other Assets | $20,182,478 |
| TOTAL NON-EARNING ASSETS | $27,837,118 |
| TOTAL ASSETS | $473,714,802 |
| Liabilities | Total |
|---|---|
| Total Shares | $414,042,464 |
| Notes Payable | $16,705,077 |
| Other Liabilities | $11,614,137 |
| TOTAL LIABILITIES | $442,361,678 |
| TOTAL EQUITY | $31,353,124 |
| TOTAL LIABILITIES AND EQUITY | $473,714,802 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,107,241 | $2,107,241 | $2,107,241 |
| Income from Investments | $99,888 | $99,888 | $99,888 |
| TOTAL INTEREST INCOME | $2,207,129 | $2,207,129 | $2,207,129 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $102,944 | $102,944 | $102,944 |
| Dividends | $419,555 | $419,555 | $419,555 |
| TOTAL INTEREST EXPENSE | $522,499 | $522,499 | $522,499 |
| NET INTEREST INCOME | $1,684,630 | $1,684,630 | $1,684,630 |
| Provision for Loan Losses | $262,830 | $262,830 | $262,830 |
| Provision for Negative Share Losses | $38,461 | $38,461 | $38,461 |
| TOTAL PROVISION EXPENSE | $301,291 | $301,291 | $301,291 |
| NON-INTEREST INCOME | |||
| Fee Income | $456,327 | $456,327 | $456,327 |
| Other Operating Income | $235,995 | $235,995 | $235,995 |
| TOTAL NON-INTEREST INCOME | $692,322 | $692,322 | $692,322 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $801,366 | $801,366 | $801,366 |
| Travel & Conference | $14,878 | $14,878 | $14,878 |
| Office Occupancy | $79,606 | $79,606 | $79,606 |
| Office Operations | $128,882 | $128,882 | $128,882 |
| Educational & Promotional | $29,736 | $29,736 | $29,736 |
| Loan Servicing | $298,421 | $298,421 | $298,421 |
| Professional & Outside Services | $475,798 | $475,798 | $475,798 |
| Member Insurance | $4,919 | $4,919 | $4,919 |
| Operating Fees | $7,165 | $7,165 | $7,165 |
| Miscellaneous | -$10,706 | -$10,706 | -$10,706 |
| TOTAL NON-INTEREST EXPENSE | $1,830,066 | $1,830,066 | $1,830,066 |
| Net Non-Recurring Gain/(Loss) | $836 | $836 | $836 |
| NET INCOME | $246,431 | $246,431 | $246,431 |
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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