Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 72 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 57 24. Related Party Disclosures, continued The following table provides the total amount of balances, which have been entered into with key management personnel for the relevant financial year: 2019 2018 Loans and advances $ 3,307,373 3,352,605 Deposits 1,791,545 1,245,142 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. 25. Commitments and Contingencies (i) Loan commitments 2019 2018 Consumer loans approved and pending disbursement $ 16,591,531 19,245,734 Mortgage loans approved and pending disbursement 42,737,687 32,641,085 Available balances on line of credit accounts 15,461,119 15,095,054 Gross commitments $ 74,790,337 66,981,873