100 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2024 (expressed in Barbados dollars) 60 24 Commitments and Contingencies i) Loan commitments 2024 $ 2023 $ Consumer loans approved and pending disbursement 10,045,677 14,421,203 Mortgage loans approved and pending disbursement 37,873,457 60,214,174 Available balances on line of credit accounts 17,709,346 17,885,396 Gross commitments 65,628,480 92,520,773 The total expected credit loss (ECL) allowance on undrawn loan commitments at March 31, 2024 is as follows: 2024 2023 Gross carrying amount $ ECL $ Gross carrying amount $ ECL $ Consumer 10,045,677 56,307 14,421,203 80,883 Mortgages 37,873,457 80,858 60,214,174 107,022 47,919,134 137,165 74,635,377 187,905 Line of credits available 17,709,346 122,530 17,885,396 121,293 65,628,480 259,695 92,520,773 309,198 The movement in the expected credit loss allowance: 2024 $ 2023 $ Balance at beginning of year 309,198 410,687 Expected credit loss (49,503) (101,489) Balance at end of year 259,695 309,198 The expected credit allowance for the undrawn loan commitments is included in other liabilities in Note 19.
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