Consolidated Annual Report 2014

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED ANNUAL REPORT 2014 45 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2014 (Expressed in Barbados dollars) 31 10. Financial Investments Financial investments comprises: 2014 2013 Held to maturity Government securities $ 20,109,000 16,109,000 Interest receivable 286,633 268,955 $ 20,395,633 16,377,955 During the year ended March 31, 2014, interest rates varied from 1.75% to 8.00% per annum (2013 - 1.75% to 8.00%). 2014 2013 Available-for-sale Equities - quoted $ 1,443,169 1,439,684 Equities - unquoted 664,348 604,710 $ 2,107,517 2,044,394 2014 2013 Loans and receivables Government securities $ 2,870,118 3,194,742 Interest receivable 311,458 77,656 $ 3,181,576 3,272,398 During the year ended March 31, 2014, interest rates varied from 4.25% to 7.40% per annum (2013 – 4.25% to 7.40%). Investments include treasury bills of $2,150,000 (2013 – $2,150,000) held as a result of a subsidiary’s regulatory requirement to maintain 1.5% of total domestic deposits as a statutory reserve.