Separate Annual Report 2021

57 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2021 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Separate Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 34 8. Distributions to Members Distributions to members include a dividend of $0.250 (2020: $0.253) per share amounting to $585,225 (2020: $543,534) and interest rebate amounting to $3,022,948 (2020: $3,031,339). 9. Cash Resources 2021 2020 Cash on hand $ 11,759,890 15,383,526 Other cash and cash equivalents 339,228,886 245,705,272 Total cash and cash equivalents 350,988,776 261,088,798 Other term deposits 36,863,088 33,873,871 Total gross cash resources 387,851,864 294,962,669 Less: expected credit loss allowance (138,399) (60,619) $ 387,713,465 294,902,050 The average effective yield on cash resources during the year was 0.19% (2020: 0.25%). The movement in expected credit loss allowance on deposits is as follows: Note 2021 2020 Balance at beginning of year $ 60,619 15,538 Expected credit loss on other term deposits 5 77,780 45,081 Balance at end of year $ 138,399 60,619 At March 31, 2021, $138,399 (2020: $11,347) of the expected credit losses allowance relating to term deposits related to those classified as stage 1, while $Nil (2020: $49,272) related to those classified as stage 2.