79 SEPARATE FINANCIAL STATEMENTS 2026 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2026 (expressed in Barbados dollars) 54 21 Related party disclosures …continued Transactions with key management personnel The Credit Union enters into transactions, arrangements and agreements involving directors, senior management and their related concerns in the ordinary course of business at commercial interest and commission rates. The following table provides the total amount of balances held with related parties for the relevant financial year. 2026 $ 2025 $ Key management personnel: Loans and advances 1,488,077 1,496,760 Deposits 2,094,086 1,536,560 The secured loans and advances are secured over property of the respective borrowers. Other balances are not secured and no guarantees have been obtained. Expected credit loss allowance totalling $661(2025 - $494) has been recorded against balances outstanding during the year with key management personnel and their related concerns. Due from related companies 2026 $ 2025 $ Due from Allied Co-operators Inc. (i) 777,922 704,920 Due from BPW Financial Holdings Inc. (i) 17,830,208 17,739,453 Due to Capita Insurance Brokers Inc. (i) (41,426) (20,188) Due from Capita Financial Services Inc. (ii) 6,804,887 5,238,398 Due to Capita Financial Services Inc. (i) (3,492,569) (1,453,736) Due from Legacy Foundation (i) 105,841 58,121 21,984,863 22,266,968 (i) Amounts due from related companies are unsecured, non-interest bearing and have no fixed terms of repayment. (ii) On July 30, 2021, the Credit Union entered into a loan agreement with Capita Financial Services Inc. The Credit Union advanced $11,674,344 with a term of 10 years and an interest rate of 1.25% per annum. Fixed annual repayments are $1,242,528 over the life of the loan. The outstanding balance as at March 31, 2026 is $4,054,585 (2025 - $5,238,398).
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