Civic Intelligence

Credit Union of New Jersey

EIN 21-0628526 • 501(c)14 • Ewing, NJ

Profile

The purpose of credit union of new jersey is that members have the knowledge and ability to be in control of their financial lives at a competitive cost.

1301 Parkway AvenueEwing, NJ 08628

www.cunj.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2021

Liabilities / Revenue

35th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)14 • $1M-$5M nonprofits • Source year 2021

Net Margin

80th percentile

14%

Higher net margin than 80% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$239,551

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 13.6% of source-year revenue.

501(c)14 • $1M-$5M nonprofits • Source year 2021

Asset Growth

34th percentile

-100%

Faster asset growth than 34% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-92%

Faster revenue growth than 1% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$0

Down $389,748,389 (-100%) from 2020

Liabilities

Down

$0

Down $363,476,325 (-100%) from 2020

Net Assets

Down

$0

Down $26,272,064 (-100%) from 2020

Revenue

Down

$1,764,530

Down $21,173,786 (-92%) from 2020

Expenses

Down

$1,525,298

Down $19,966,094 (-93%) from 2020

Net Income

Down

$239,232

Down $1,207,692 (-83%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2010: $291,437,512Liabilities 2010: $270,478,447Net Assets 2010: $20,959,0652010Assets 2011: $297,667,559Liabilities 2011: $275,977,009Net Assets 2011: $21,690,5502011Assets 2012: $311,417,104Liabilities 2012: $288,643,943Net Assets 2012: $22,773,1612012Assets 2013: $320,175,734Liabilities 2013: $296,870,551Net Assets 2013: $23,305,1832013Assets 2014: $317,350,273Liabilities 2014: $292,505,455Net Assets 2014: $24,844,8182014Assets 2015: $323,278,451Liabilities 2015: $297,267,152Net Assets 2015: $26,011,2992015Assets 2016: $338,704,618Liabilities 2016: $311,962,914Net Assets 2016: $26,741,7042016Assets 2017: $340,413,939Liabilities 2017: $316,933,125Net Assets 2017: $23,480,8142017Assets 2018: $343,902,652Liabilities 2018: $320,722,734Net Assets 2018: $23,179,9182018Assets 2019: $344,895,703Liabilities 2019: $320,290,098Net Assets 2019: $24,605,6052019Assets 2020: $389,748,389Liabilities 2020: $363,476,325Net Assets 2020: $26,272,0642020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2021

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $18,707,3362010Expenses 2011: $18,898,0442011Expenses 2012: $18,792,6812012Revenue 2013: $19,515,460Expenses 2013: $18,715,556Net Income 2013: $799,9042013Revenue 2014: $20,741,830Expenses 2014: $19,301,026Net Income 2014: $1,440,8042014Revenue 2015: $21,317,362Expenses 2015: $20,194,546Net Income 2015: $1,122,8162015Revenue 2016: $22,330,778Expenses 2016: $21,595,201Net Income 2016: $735,5772016Revenue 2017: $23,226,668Expenses 2017: $26,471,846Net Income 2017: -$3,245,1782017Revenue 2018: $24,719,417Expenses 2018: $25,018,829Net Income 2018: -$299,4122018Revenue 2019: $24,842,107Expenses 2019: $23,447,169Net Income 2019: $1,394,9382019Revenue 2020: $22,938,316Expenses 2020: $21,491,392Net Income 2020: $1,446,9242020Revenue 2021: $1,764,530Expenses 2021: $1,525,298Net Income 2021: $239,2322021

Highlighted filing

2021

Revenue$1,764,530
Expenses$1,525,298
Net Income$239,232

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to May 31, 2021
Signed
May 31, 2022
Return Version
2021v4.2
Gross Receipts
$1,766,031
Mission and Program Overview

Mission

The purpose of credit union of new jersey is that members have the knowledge and ability to be in control of their financial lives at a competitive cost.

Provide members with the knowledge and ability to be in control of their financial lives at a competitive cost.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$299,075,915$0▼ $299,075,915
Savings and Temporary Cash Investments$58,801,353$0▼ $58,801,353
Rtn Earn Endowment Incm Other Fnds$26,272,064$0▼ $26,272,064
Investments in Publicly Traded Securities$13,278,891$0▼ $13,278,891
Land, Buildings, and Equipment, Net$6,247,082$0▼ $6,247,082
Investments Other Securities$1,890,743$0▼ $1,890,743
Cash and Non-Interest-Bearing Accounts$1,656,462$0▼ $1,656,462
Prepaid Expenses and Deferred Charges$659,690$0▼ $659,690
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$389,748,389$0▼ $389,748,389
Other Assets Total$8,138,253$0▼ $8,138,253
Liabilities
Other Liabilities$361,465,271$0▼ $361,465,271
Accounts Payable and Accrued Expenses$2,011,054--
Total Liabilities$363,476,325$0▼ $363,476,325
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,272,064$0▼ $26,272,064
Total Liabilities and Net Assets / Fund Balance$389,748,389$0▼ $389,748,389
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew L JaegerPresident/CEOFT$149,880$89,671$239,551
Soma SarkarEvp/COOFT$117,261$13,021$130,282

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
PscuCredit Card Processing/call Center Overf560 CARILLON PKWY, St Petersburg, FL 33716$920,582
Member Support Services LLCBank Office Services259 PROSPECT PLAINS ROAD BLDG J SU, Cranbury, NJ 08512$855,666
Cumanet LLCMortgage Loan Underwriting And Servicing73 MOUNTAIN VIEW BLVD, Basking Ridge, NJ 07920$104,587
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,489,901
Investment Income
$31,472
Other Revenue
$243,157
Change in Net Assets
$239,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$961,734
Salaries, Compensation, and Employee Benefits$563,564
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$369,831
All Other Expenses---$114,817
Other Salaries and Wages---$97,087
Occupancy---$64,101
Fees for Services Other---$62,670
Other Employee Benefits---$57,233
Information Technology---$46,615
Office Expenses---$40,483
Depreciation Depletion---$39,802
Advertising---$35,264
Payroll Taxes---$34,813
Other Expenses---$32,015
Fees for Services Legal---$7,872
Fees for Services Accounting---$5,000
Pension Plan Contributions---$4,600
Travel---$920
Total Functional Expenses$0$0$0$1,525,298
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

Credit union of new jersey was converted to a federal charter and is no longer required to file form 990 moving forward.

Form 990, Part VI, Section A, Line 6

All account holders with at least $5.00 in a main share (savings) account are members of the organization.

Form 990, Part VI, Section A, Line 7A

All members receive one vote in the annual election of members of the board of directors and examining committee.

Form 990, Part VI, Section A, Line 7B

Decisions of the governing body that members need to approve are: decision to merge out of existence into another credit union any amendment to the certificate of incorporation election of directors and examining committee members switch to a new charter type removal of an elected official expulsion of a member

Form 990, Part VI, Section B, Line 11B

The organization engages an independent cpa firm to prepare form 990. Information is provided to the cpa firm by the finance department. The cpa firm reviews the information provided and prepares the return. The return is reviewed by the ceo and cfo, then made available to the board of directors for review prior to submission to the irs.

Form 990, Part VI, Section B, Line 12C

Annual written certification with signature is required of each employee and volunteer. All new vendors are required to complete a checklist that includes identifying any potential conflicts.

Form 990, Part VI, Section B, Line 15

Evaluation conducted by an independent compensation consulting firm.

Form 990, Part VI, Section C, Line 18

The organization's form 990 is available upon request. All other documents are made available upon request.

Form 990, Part VI, Section C, Line 19

Financial statements are posted monthly in lobbies of all branches. All other documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Credit Union of New Jersey
EIN
21-0628526
Phone
6095384061
Address
1301 PARKWAY AVENUE, EWING, NJ 08628

Signing Officer

Name
Robert M Vuocolo
Title
CFO
Phone
6095384061
Signed
2022-05-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert M Vuocolo
Formed
1943
Legal Domicile
Nj
Voting Board Members
10
Independent Board Members
10
Employees
84
Volunteers
13

Preparer

Firm
Rkl Llp
Address
1330 BROADCASTING ROAD, WYOMISSING, PA 19610-6008
Preparer
Ruthann J Woll CPA
Phone
6103761595
Supplemental Narrative

Additional Explanations

FORM 990, PAGE 1 BOX B:

Credit union of new jersey was converted to a federal charter and is no longer required to file form 990 moving forward. The credit union is operating under the name credit union of new jersey, a federal credit union.

Form 990, Part V, Line 1C

The organization did not have any instances where backup withholding was required; however, if the situation would arise, the organization is aware of the reporting requirements and would handle that accordingly.

FORM 990, PART XI, LINE 9:

Transfer to credit union of new jersey, a federal credit union -26,511,296.

Part XII, Line 2C

The organization has an audit committee that selects the independent auditor. This process has not changed from prior years.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0TRAVEL FOR COMPANIONS IS ONLY PROVIDED TO THE EXTENT PERMISSIBLE BY THE NATIONAL CREDIT UNION ADMINISTRATION GUIDELINES. SOCIAL CLUB DUES PROVIDED AT LOCAL ORGANIZATION FOR CEO TO DEVELOP COMMUNITY RELATIONSHIPS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X

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