72 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2025 (expressed in Barbados dollars) 34 4 Other Income 2025 $ 2024 $ Fee income 7,861,718 9,042,992 Legal income 1,283,674 846,474 Rental income 129,947 183,418 Bad debt recoveries 1,853,422 1,226,449 Insurance agency commissions 1,626,846 1,552,065 Dividend income 49,090 149,685 Gain on disposal of property and equipment 282,736 471,302 Lease income 1,299,433 1,251,608 14,386,866 14,723,993 5 Staff Costs Note 2025 $ 2024 $ Salaries 26,431,780 22,884,201 National insurance scheme contributions 2,227,510 2,091,657 Pension plan - defined contribution plan 75,285 58,759 Pension plan - defined benefit plan 15 483,073 395,770 Other costs 1,684,091 2,245,277 30,901,739 27,675,664 6 Expected Credit Losses Notes 2025 $ 2024 $ Loans and advances 13 312,867 2,913,994 Undrawn loan commitments 24 (27,135) (49,503) Accounts Receivable 16 485,761 – Financial investments 12 41,913 129,056 Term deposits 11 8,312 8,410 821,718 3,001,957
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