Non-Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2019 57 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 42 14. Investment in Subsidiary 2019 2018 BPW Financial Holdings Inc. – 100% $ 11,500,000 11,500,000 Less: Impairment (1,307,400) - $ 10,192,600 11,500,000 15. Other Assets Other assets are comprised of the following: 2019 2018 Accounts receivable $ 9,176,104 8,698,540 Prepaid employee benefit (Note 18) 3,034,372 2,900,836 Prepaid expenses 1,852,738 2,228,995 Interest receivable on cash resources 3,873 1,482 Dividend receivable 60,000 55,000 Other Assets re Goodwill Credit Union (Note 27) 39,786 39,786 $ 14,166,873 13,924,639 16. Deposits This amount comprises: 2019 2018 Saving deposits $ 515,756,546 472,412,743 Deposits payable on fixed date 611,525,515 535,975,951 Registered retirement savings plan deposits (i) 45,114,095 44,764,805 1,172,396,156 1,053,153,499 Interest payable 2,607,588 2,693,760 $ 1,175,003,744 1,055,847,259 (i) The Credit Union operates a registered retirement savings plan for the benefit of its members and guarantees a minimum return on plan deposits of the higher of 5.0% or 1.0% above the minimum deposit rate. At March 31, 2019, the minimum deposit rate was 1.25% (2018 -1.25%).