69 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 52 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: 2020 2019 Loans and advances $ 3,040,552 3,307,373 Deposits 1,914,308 1,791,545 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 2020 2019 Consumer loans approved and pending disbursement $ 15,152,294 16,591,531 Mortgage loans approved and pending disbursement 77,165,585 42,737,687 Available balances on line of credit accounts 15,552,625 15,461,119 Gross commitments $ 107,870.504 74,790,337 The total expected credit loss (ECL) allowance on undrawn loan commitments at March 31, 2020 is as follows: 2020 2019 Gross Gross Carrying Carrying Amount ECL Amount ECL Consumer $ 15,152,294 91,921 16,591,531 98,173 Mortgages 77,165,585 64,649 42,737,687 40,083 $ 92,317,879 156,570 59,329,218 138,256 Line of credits available 15,552,625 94,739 15,461,119 93,331 $ 107,870,504 251,309 74,790,337 231,587
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