Non-Consolidated Annual Report 2015

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2015 50 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2015 (Expressed in Barbados dollars) 39 22. Related Party Disclosures...(continued) Transactions with key management personnel...(continued) The following table provides the total amount of balances held with related parties for the relevant financial year. 2015 2014 Key management personnel: Loans and advances $ 2,140,745 2,244,963 Deposits 862,959 1,012,792 The secured loans and advances are secured over property of the respective borrowers. Other balances are not secured and no guarantees have been obtained. No impairment losses have been recorded against balances outstanding during the period with key management personnel, and no specific allowance has been made for impairment losses on balances with key management personnel and their related concerns at the period end. Due from related companies 2015 2014 Due from BPW Financial Holdings Inc. $ 17,339,733 17,032,813 Due from Capita Financial Services Inc. 85,541 74,649 $ 17,425,274 17,107,462 Amounts due from related companies are unsecured, non-interest bearing and have no fixed terms of repayment. Other transactions Cash resources include deposits held with Capita Financial Services Inc. amounting to $19,523,136 (2014 - $19,275,038) which resulted in interest income of $625,760 (2014 - $1,016,351).