BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 44 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 27 8. Distributions to Members Distributions to members include a dividend of $0.253 (2019 - $0.231) per share amounting to $543,534 (2019 - $511,058) and interest rebate amounting to $3,031,339 (2019 - $2,850,157). 9. Cash Resources 2020 2019 Cash on hand $ 15,383,526 14,193,021 Cash and cash equivalents 245,705,272 183,630,786 Total cash and cash equivalents 261,088,798 197,823,807 Other term deposits 33,873,871 35,841,115 Total gross cash resources 294,962,669 233,664,922 Less: expected credit loss allowance (60,619) (15,538) $ 294,902,050 233,649,384 The average effective yield on cash resources during the year was 0.25% (2019 - 0.01%). The movement in expected credit loss allowance on deposits is as follows: Note 2020 2019 Balance at beginning of year $ 15,538 - Adjustment on initial impact of IFRS 9 - 7,850 Balance at beginning of year (adjusted) 15,538 7,850 Expected credit loss on other term deposits 5 45,081 7,688 Balance at end of year $ 60,619 15,538 $11,347 (2019: $15,538) of the expected credit losses allowance at March 31, 2020 relate to term deposits classified as stage 1. $49,272 (2019 - $NIL) relates to term deposits classified as stage 2.
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