77 SEPARATE FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 45 15 Other assets Other assets are comprised of the following: Notes 2025 $ 2024 $ Accounts receivable (i) 21,060,742 14,323,478 Prepaid investment (ii) 15,000,000 – Prepaid employee benefit 17 1,770,586 2,337,665 Prepaid expenses 4,363,066 3,804,837 Other assets re Goodwill Credit Union 39,786 39,786 42,234,180 20,505,766 (i) Accounts receivable are recorded at their invoiced amounts and are non-interest bearing. Expected credit loss allowance totalling $485,561 (2024 – $ Nil) is included within accounts receivable. (ii) Prepaid investment relates to amounts paid on March 31, 2025 which has an effective date of April 1, 2025. 16 Deposits This amount comprises: 2025 $ 2024 $ Saving deposits 684,555,378 682,445,030 Deposits payable on fixed date 828,620,808 789,327,980 Registered retirement savings plan deposits (i) 50,810,622 51,082,085 1,563,986,808 1,522,855,095 Interest payable 1,381,931 1,941,970 1,565,368,739 1,524,797,065 (i) The Credit Union operates two registered retirement savings plans for the benefit of its members. The legacy plan guarantees a minimum return on plan deposits of 5.0% while the new plan guarantees 1.0% above the minimum deposit rate. At March 31, 2025, the minimum deposit rate was 0.5 % (2024: 0.5%).
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