87 CONSOLIDATED FINANCIAL STATEMENTS 2026 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2026 (expressed in Barbados dollars) 55 17 Deposits …continued ii) Concentration of deposits Deposits (excluding interest payable) comprised the following: 2026 $ 2025 $ Personal 1,602,566,371 1,519,539,856 Commercial 218,121,248 226,584,533 1,820,687,619 1,746,124,389 At March 31, 2026, deposits pledged as security for loans to members and not available for withdrawal totalled $300,981,341 (2025 - $311,020,086). The average yield of deposits during the year was 1.26% (2025 - 1.27%). 18 Other Liabilities Other liabilities are comprised of the following: Note 2026 $ 2025 $ Accounts payable and accrued expenses (i) 9,833,384 14,984,232 Amounts payable re Goodwill Credit Union 73,167 89,286 Fair value adjustment - staff loans (ii) 2,263,965 2,142,227 Lease liability 14 1,302,686 3,562,439 Unallocated receipts to members 6,558,290 3,073,642 Deferred loan commitment fees 161,841 164,510 Premiums payable 2,820,831 1,918,234 Interest rebate payable – 203,026 23,014,164 24,219,364 (i) Included in accrued expenses at March 31, 2026, is a provision for undrawn loan commitments of $215,518 (2025 - $232,560) and legal litigations $Nil (2025 - $250,000). (ii) Fair value adjustment - staff loans represent the deferred interest income on staff loans associated with the difference between the market value and the carrying value of the loans as a result of the interest rates on the staff loans being lower than the market interest rate. The deferred interest income will be recognised over the term of the staff loans.
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