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 | $392,063,637 |
| Less: Allowance for Loan Loss | -$2,971,247 |
| NET LOANS | $389,092,390 |
| 1st Mortgages to be sold | $0 |
| Total Investments | $43,745,280 |
| TOTAL EARNING ASSETS | $432,837,671 |
| Total Cash | $5,081,031 |
| Total Fixed Assets | $7,681,689 |
| Total Other Assets | $19,152,179 |
| TOTAL NON-EARNING ASSETS | $26,833,868 |
| TOTAL ASSETS | $464,752,570 |
| Liabilities | Total |
|---|---|
| Total Shares | $403,155,800 |
| Notes Payable | $19,673,716 |
| Other Liabilities | $10,712,123 |
| TOTAL LIABILITIES | $433,541,639 |
| TOTAL EQUITY | $31,210,931 |
| TOTAL LIABILITIES AND EQUITY | $464,752,570 |
| Costs and Income | Current Month | Quarter-to-Date | Year-to-Date |
|---|---|---|---|
| INTEREST INCOME | |||
| Interest on Loans | $2,095,501 | $6,163,736 | $23,127,177 |
| Income from Investments | $103,759 | $319,605 | $1,255,491 |
| TOTAL INTEREST INCOME | $2,199,260 | $6,483,341 | $24,382,669 |
| INTEREST EXPENSE | |||
| Interest on Borrowed Money | $114,361 | $377,604 | $2,048,422 |
| Dividends | $397,567 | $1,143,847 | $2,899,818 |
| TOTAL INTEREST EXPENSE | $511,928 | $1,521,450 | $4,948,240 |
| NET INTEREST INCOME | $1,687,332 | $4,961,891 | $19,434,429 |
| Provision for Loan Losses | $364,713 | $789,160 | $4,199,625 |
| Provision for Negative Share Losses | $24,725 | $59,083 | $344,153 |
| TOTAL PROVISION EXPENSE | $389,438 | $848,243 | $4,543,778 |
| NON-INTEREST INCOME | |||
| Fee Income | $448,289 | $1,334,525 | $5,254,334 |
| Other Operating Income | $271,662 | $754,915 | $3,217,750 |
| TOTAL NON-INTEREST INCOME | $719,951 | $2,089,440 | $8,472,084 |
| NON-INTEREST EXPENSE | |||
| Employee Compensation & Benefits | $796,977 | $2,447,286 | $8,932,512 |
| Travel & Conference | -$1,677 | $35,792 | $176,591 |
| Office Occupancy | $57,184 | $196,578 | $850,257 |
| Office Operations | $121,352 | $379,920 | $1,400,227 |
| Educational & Promotional | $32,724 | $108,336 | $442,896 |
| Loan Servicing | $298,046 | $873,813 | $3,443,328 |
| Professional & Outside Services | $561,382 | $1,435,311 | $5,724,462 |
| Member Insurance | $4,024 | $12,073 | $47,858 |
| Operating Fees | $6,738 | $20,214 | $80,857 |
| Miscellaneous | $8,743 | $206,102 | $576,400 |
| TOTAL NON-INTEREST EXPENSE | $1,885,494 | $5,715,426 | $21,675,388 |
| Net Non-Recurring Gain/(Loss) | -$300 | $53,416 | $70,505 |
| NET INCOME | $132,050 | $541,079 | $1,757,852 |
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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