BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2021 86 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 60 23. 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: 2021 2020 Loans and advances $ 3,964,487 3,040,552 Deposits 2,473,340 1,914,308 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 expected credit loss allowance has been recorded against balances outstanding during the period with key management personnel and their related concerns. 24. Commitments and Contingencies (i) Loan commitments 2021 2020 Consumer loans approved and pending disbursement $ 21,930,122 15,152,294 Mortgage loans approved and pending disbursement 102,787,933 77,165,585 Available balances on line of credit accounts 18,059,184 15,552,625 Gross commitments $ 142,777,239 107,870,504 The total expected credit loss (ECL) allowance on undrawn loan commitments at March 31, 2021 is as follows: 2021 2020 Gross Gross Carrying Carrying Amount ECL Amount ECL Consumer $ 21,930,122 167,074 15,152,294 91,921 Mortgages 102,787,933 140,736 77,165,585 64,649 $ 124,718,055 307,810 92,317,879 156,570 Line of credits available 18,059,184 133,261 15,552,625 94,739 $ 142,777,239 441,071 107,870,504 251,309
RkJQdWJsaXNoZXIy MTA2MDM=