88 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2024 (expressed in Barbados dollars) 54 22 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 31,973,986 46,580,777 Available balances on line of credit accounts 17,709,346 17,885,396 Gross commitments 59,729,009 78,887,376 The total expected credit loss (ECL) allowance on undrawn loan commitments at March 31, 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 31,973,986 47,765 46,580,777 73,929 42,019,663 104,072 61,001,980 154,812 Line of credits available 17,709,346 122,530 17,885,396 121,294 59,729,009 226,602 78,887,376 276,106 The movement in the expected credit loss allowance: 2024 $ 2023 $ Balance at beginning of year 276,106 377,594 Expected credit loss (49,504) (101,488) Balance at end of year 226,602 276,106 The expected credit allowance for the undrawn loan commitments is included in other liabilities in Note 17.
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