122 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) 82 25 Financial Risk Management …continued 25.2 Credit risk …continued The movement across ECL stages at March 31 were as follows: 2023 Stage 1 $ Stage 2 $ Stage 3 $ Total $ Expected credit loss allowance Beginning balance 3,270,137 3,456,667 38,327,277 45,054,081 Stage 1 to stage 2 (112,989) 112,989 – – Stage 1 to stage 3 (58,954) – 58,954 – Stage 2 to stage 1 1,647,035 (1,647,035) – – Stage 2 to stage 3 – (1,082,382) 1,082,382 – Stage 3 to stage 1 3,061,345 – (3,061,345) – Stage 3 to stage 2 – 773,950 (773,950) – Net ECL re-measurement (5,541,056) 342,795 8,188,750 2,990,489 Ending balance 2,265,518 1,956,984 43,822,068 48,044,570
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