Credit Union Annual Report 2021 V2 - Flipbook - Page 60
THE CAYMAN ISLANDS CIVIL SERVICE ASSOCIATION (CICSA)
CO-OPERATIVE CREDIT UNION LIMITED
NOTES TO FINANCIAL STATEMENTS (continued)
July 31, 2021
5. Mortgages and personal loans (continued)
Mortgage loans
Stage 1
12-month ECL
Performing loans
Impaired loans
Gross carrying amount
Loss allowance
Carrying amount
$ 203,652,559 $
–
203,652,559
(294,900)
203,357,659
Personal loans
Performing loans
Impaired loans
Gross carrying amount
Loss allowance
Carrying amount
Personal loans
Performing loans
Impaired loans
Gross carrying amount
Loss allowance
Carrying amount
Stage 1
12-month ECL
$
– $
–
–
–
–
Stage 2
life-time ECL
95,025,140 $
–
95,025,140
(65,443)
94,959,697
Stage 1
12-month ECL
$
Stage 2
life-time ECL
– $
3,518,960
3,518,960
(878,304)
2,640,656
– $
1,201,967
1,201,967
(791,293)
410,674
– $
–
–
–
–
2020
ECL Staging
Stage 3
Originated
life-time ECL credit-impaired
69,216 $
–
69,216
(2,460)
66,756
– $
1,816,110
1,816,110
(1,070,158)
745,952
Total
– $ 203,652,559
–
3,518,960
–
207,171,519
–
(1,173,204)
–
205,998,315
2021
ECL Staging
Stage 3
Originated
life-time ECL credit-impaired
1,207,060 $
–
1,207,060
(86,003)
1,121,057
Stage 2
life-time ECL
87,663,380 $
–
87,663,380
(203,215)
87,460,165
2020
ECL Staging
Stage 3
Originated
life-time ECL credit-impaired
– $
–
–
–
–
Total
96,232,200
1,201,967
97,434,167
(942,739)
96,491,428
Total
87,732,596
1,816,110
89,548,706
(1,275,833)
88,272,873
The allowance for ECL is recognized in each reporting period and is impacted by a variety of factors, as described below:
•
Transfers between stages due to financial assets experiencing significant movement in credit risk or becoming
credit-impaired during the period;
•
Additional allowances for new financial instruments recognized during the period, as well as releases for
financial instruments de-recognized in the period;
•
Impact on the measurement of ECL due to inputs used in the calculation including the movement between 12month and life-time ECL.
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