Consolidated Annual Report 2016

43 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2016 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2016 (Expressed in Barbados dollars) 31 12. Loans and Advances, continued 2015 Consumer Business Mortgages Total Balance, beginning of year $ 16,754,197 462,395 5,395,013 22,611,605 Amounts charged off (3,061,940) (82,101) (230,240) (3,374,281) Loan impairment expense 3,343,746 (85,818) 693,368 3,951,296 Balance, end of year $ 17,036,003 294,476 5,858,141 23,188,620 Individual impairment $ 13,079,751 221,696 4,504,692 17,806,139 Collective impairment 3,956,252 72,780 1,353,449 5,382,481 $ 17,036,003 294,476 5,858,141 23,188,620