2021-11-12T15:57:09-06:00 2020-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2020-01-01 210628526 CREDIT UNION OF NEW JERSEY CRED 6095384061 1301 PARKWAY AVENUE EWING NJ 08628 ROBERT M VUOCOLO CFO 6095384061 2021-11-11 1 ROBERT VUOCOLO XXX-XX-XXXX RUTHANN J WOLL CPA P00647342 6103761595 2021-11-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ROBERT M VUOCOLO 1301 PARKWAY AVENUE EWING NJ 08628 23293876 0 X WWW.CUNJ.ORG X 1943 NJ PROVIDE MEMBERS WITH THE KNOWLEDGE AND ABILITY TO BE IN CONTROL OF THEIR FINANCIAL LIVES AT A COMPETITIVE COST. 9 9 97 13 212612 0 0 0 21497519 19697228 719032 396339 2625556 2844749 24842107 22938316 0 0 0 0 7402599 7104948 0 0 0 16044570 14386444 23447169 21491392 1394938 1446924 344895703 389748389 320290098 363476325 24605605 26272064 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. 0 0 PROVIDE THE NECESSARY PRODUCTS, SERVICES, AND FINANCIAL INFORMATION TO MEMBERS IN ORDER FOR THEM TO HAVE THE KNOWLEDGE AND ABILITY TO BE IN CONTROL OF THEIR FINANCIAL LIVES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 X 8546 0 1 97 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT VUOCOLO 6095384061 1301 PARKWAY AVENUE EWING NJ 08628 GARY K CHIZMADIA CHAIRMAN OF BOARD 1.00 X X 0 0 0 PHILIP PRASSAS DIRECTOR 1.00 X 0 0 0 THOMAS J VALERI JR VICE CHAIRMAN 1.00 X X 0 0 0 BETHANNE L MOWERY TREASURER 1.00 X X 0 0 0 LEON J FULGINITI SECRETARY 1.00 X X 0 0 0 J ERIC KRAEHENBUEHL DIRECTOR 1.00 X 0 0 0 LOUIS M TONDINI DIRECTOR 1.00 X 0 0 0 GUY J DIMEMMO DIRECTOR 1.00 X 0 0 0 DONALD N CHIACCHIO DIRECTOR 1.00 X 0 0 0 RONALD P LUNETTA DIRECTOR 1.00 X 0 0 0 ANDREW L JAEGER PRESIDENT/CEO 40.00 X 430357 0 42578 SOMA SARKAR EVP/COO 40.00 X 252426 0 44853 PATRICIA FISK SVP/CAO 40.00 X 202214 0 48005 ROBERT M VUOCOLO SVP/CFO 40.00 X 207645 0 40643 CLAUDIA COLON VP, MEMBER EXPERIENCE 40.00 X 152788 0 30556 CHRISTOPHER HARTSOUGH VP OF LENDING 40.00 X 144100 0 29830 MARK BRADLEY VP, MARKETING AND BUSINESS 40.00 X 131704 0 20696 MIKE THOMAS DIRECTOR OF TECHNOLOGY & I 40.00 X 145956 0 16270 MARTIN SOFRONSKI AVP, SALES AND MEMBER SERV 40.00 X 134780 0 41673 1801970 0 315104 10 0 1 0 MEMBER SUPPORT SERVICES LLC 259 PROSPECT PLAINS ROAD BLDG J SU CRANBURY NJ 08512 BANK OFFICE SERVICES 2233416 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING/CALL CENTER OVERF 1628874 CUMANET LLC 73 MOUNTAIN VIEW BLVD BASKING RIDGE NJ 07920 MORTGAGE LOAN UNDERWRITING AND SERVICING 563918 PETER J LISKA LLC 766 SHREWSBURY AVE TINTON FALLS NJ 07724 LEGAL SERVICES 211111 CORTLAND CAPITAL MARKET SERVICES LLC 225 W WASHINGTON ST SUITE 2100 CHICAGO IL 60606 BUSINESS LOAN SERVICING 181613 5 INTEREST ON LOANS 522100 15301060 15301060 SERVICE FEES 522100 4396168 4387525 8643 19697228 751899 751899 355560 -355560 -355560 -355560 MISCELLANEOUS INCOME 522100 2844749 2640780 203969 2844749 22938316 22329365 212612 396339 X 1268812 4485838 86479 820447 443372 91120 59953 671983 289445 435495 472820 926452 28800 15 506604 MISCELLANEOUS EXPENSE 4641608 PROVISION FOR LOAN LOSS 2640000 LOAN SERVICING EXPENSE 966186 DIVIDENDS ON MEMBER DEP 862284 1793679 21491392 2953376 1656462 24149248 58801353 294652498 299075915 684861 659690 13430311 7183229 6071095 6247082 6817145 13278891 1530251 1890743 8037229 8138253 344895703 389748389 1620549 2011054 318669549 361465271 320290098 363476325 X 0 0 0 0 24605605 26272064 24605605 26272064 344895703 389748389 1446924 219535 0 X X 0 1 X 1 0 1612667 1612667 6333208 2883667 3449541 584564 584564 0 4899872 3714998 1184874 6247082 MEMBERS' SHARES & SAVINGS ACCOUNTS 361390049 ACCRUED DIVIDENDS PAYABLE 75222 361465271 23157851 219535 219535 22938316 0 22938316 21491392 0 21491392 0 21491392 X X 1 1 X X 0 0 0 ANDREW L JAEGER PRESIDENT/CEO 343590 0 60721 0 26046 0 9383 0 33195 0 472935 0 0 0 SOMA SARKAR EVP/COO 228890 0 12000 0 11536 0 23782 0 21071 0 297279 0 0 0 PATRICIA FISK SVP/CAO 186909 0 12000 0 3305 0 24298 0 23707 0 250219 0 0 0 ROBERT M VUOCOLO SVP/CFO 182413 0 12000 0 13232 0 9473 0 31170 0 248288 0 0 0 CLAUDIA COLON VP, MEMBER EXPERIENCE 140966 0 7290 0 4532 0 10153 0 20403 0 183344 0 0 0 CHRISTOPHER HARTSOUGH VP OF LENDING 131571 0 6150 0 6379 0 2733 0 27097 0 173930 0 0 0 MARK BRADLEY VP, MARKETING AND BUSINESS 125164 0 6090 0 450 0 18775 0 1921 0 152400 0 0 0 MIKE THOMAS DIRECTOR OF TECHNOLOGY & I 139566 0 6090 0 300 0 14349 0 1921 0 162226 0 0 0 MARTIN SOFRONSKI AVP, SALES AND MEMBER SERV 125037 0 7020 0 2723 0 8069 0 33604 0 176453 0 0 0 PART I, LINE 1A TRAVEL 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. ANDREW L JAEGER OFFICER FIRST MORTGAGE X 377000 351235 0 1 1 ANDREW L JAEGER OFFICER AUTO LOAN X 52929 0 0 1 1 ANDREW L JAEGER OFFICER HOME EQUITY X 150000 40980 0 1 1 ANDREW L JAEGER OFFICER CREDIT CARD X 15000 14385 0 1 1 ANDREW L JAEGER OFFICER FIRST MORTGAGE X 368000 340985 0 1 1 PATRICIA FISK OFFICER FIRST MORTGAGE X 250000 63410 0 1 1 PATRICIA FISK OFFICER FIRST MORTGAGE X 140000 0 0 1 1 PATRICIA FISK OFFICER HOME EQUITY X 30000 0 0 1 1 PATRICIA FISK OFFICER AUTO LOAN X 17650 7709 0 1 1 ROBERT M VUOCOLO OFFICER FIRST MORTGAGE X 350000 340560 0 1 1 ROBERT M VUOCOLO OFFICER HOME EQUITY X 25000 0 0 1 1 SOMA SARKAR OFFICER FIRST MORTGAGE X 778000 471151 0 1 1 SOMA SARKAR OFFICER HOME EQUITY LOC X 211000 159867 0 1 1 SOMA SARKAR OFFICER AUTO LOAN X 50000 0 0 0 0 1790282 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 VI, SECTION A, LINE 4 THE ORGANIZATION BECAME A FEDERALLY CHARTERED CREDIT UNION AS OF 5/26/21. NEW BY-LAWS WERE ADOPTED IN ORDER TO CONFORM WITH FEDERAL REGULATIONS. 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. FORM 990, PART IX, LINE 24E DEBIT CARD EXPENSE 349,002. PROVISION EXPENSE 275,747. ATM EXPENSE 272,487. COLLECTION EXPENSE 216,983. SUBSCRIPTION EXPENSE 146,202. SHARED BRANCHING EXPENSE 131,850. TRAINING EXPENSE 117,346. CREDIT REPORTS 71,337. CORRESPONDENT SERVICE CHARGES 63,038. ARMORED COURIER EXPENSE 60,795. PRINTING EXPENSE 56,425. ATM MAINTENANCE EXPENSE 32,467. PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT SELECTS THE INDEPENDENT AUDITOR. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. UNIVERSAL FINANCIAL SERVICES LLC 1301 PARKWAY AVENUE EWING NJ 08628 223757946 INACTIVE NJ CREDIT UNION OF NEW JERSEY