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 November 2024
Assets |
Total |
Total Loans |
$390,353,214 |
Less: Allowance for Loan Loss |
-$2,896,384 |
NET LOANS |
$387,456,830 |
1st Mortgages to be sold |
$0 |
Total Investments |
$59,189,913 |
TOTAL EARNING ASSETS |
$446,646,744 |
Total Cash |
$5,040,594 |
Total Fixed Assets |
$7,664,507 |
Total Other Assets |
$19,496,992 |
TOTAL NON-EARNING ASSETS |
$27,161,499 |
TOTAL ASSETS |
$478,848,837 |
Summary Balance Sheet (Liabilities and Equity) for branches as of November 2024
Liabilities |
Total |
Total Shares |
$402,808,650 |
Notes Payable |
$33,952,237 |
Other Liabilities |
$10,935,966 |
TOTAL LIABILITIES |
$447,696,853 |
TOTAL EQUITY |
$31,151,984 |
TOTAL LIABILITIES AND EQUITY |
$478,848,837 |
Summary Income Sheet for branches as of November 2024
Costs and Income |
Current Month |
Quarter-to-Date |
Year-to-Date |
INTEREST INCOME |
Interest on Loans |
$2,010,434 |
$4,068,235 |
$21,031,676 |
Income from Investments |
$131,347 |
$215,847 |
$1,151,733 |
TOTAL INTEREST INCOME |
$2,141,782 |
$4,284,081 |
$22,183,409 |
INTEREST EXPENSE |
Interest on Borrowed Money |
$103,249 |
$263,243 |
$1,934,061 |
Dividends |
$388,856 |
$746,279 |
$2,502,251 |
TOTAL INTEREST EXPENSE |
$492,104 |
$1,009,522 |
$4,436,311 |
NET INTEREST INCOME |
$1,649,677 |
$3,274,559 |
$17,747,098 |
Provision for Loan Losses |
$271,220 |
$424,448 |
$3,834,913 |
Provision for Negative Share Losses |
$17,407 |
$34,358 |
$319,428 |
TOTAL PROVISION EXPENSE |
$288,627 |
$458,805 |
$4,154,340 |
NON-INTEREST INCOME |
Fee Income |
$430,216 |
$886,235 |
$4,806,044 |
Other Operating Income |
$245,922 |
$483,254 |
$2,946,089 |
TOTAL NON-INTEREST INCOME |
$676,138 |
$1,369,489 |
$7,752,133 |
NON-INTEREST EXPENSE |
Employee Compensation & Benefits |
$768,109 |
$1,650,309 |
$8,135,535 |
Travel & Conference |
$20,371 |
$37,469 |
$178,267 |
Office Occupancy |
$70,869 |
$139,394 |
$793,073 |
Office Operations |
$128,118 |
$258,568 |
$1,278,875 |
Educational & Promotional |
$35,594 |
$75,613 |
$410,173 |
Loan Servicing |
$287,006 |
$575,767 |
$3,145,282 |
Professional & Outside Services |
$463,609 |
$873,929 |
$5,163,081 |
Member Insurance |
$4,024 |
$8,049 |
$43,834 |
Operating Fees |
$6,738 |
$13,476 |
$74,119 |
Miscellaneous |
$97,134 |
$197,358 |
$567,656 |
TOTAL NON-INTEREST EXPENSE |
$1,881,572 |
$3,829,931 |
$19,789,894 |
Net Non-Recurring Gain/(Loss) |
$10,241 |
$53,716 |
$70,805 |
NET INCOME |
$165,858 |
$409,028 |
$1,625,801 |
Download the 2023 Annual Report