Credit Union Annual Report 2021 V2 - Flipbook - Page 61
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)
The following tables explain the changes in the loss allowance between the beginning and the end of the annual period
due to these factors:
Stage 1
12-month
ECL
Mortgage loans
Loss allowance as at August 1, 2020
Transfers:
Transfer from Stage 1 to Stage 2
Transfer from Stage 1 to Stage 3
Transfer from Stage 2 to Stage 1
Transfer from Stage 2 to Stage 3
Transfer from Stage 3 to Stage 2
Transfer from Stage 3 to Stage 1
New financial assets originated or
purchased
Financial assets fully derecognized
during the period
Loans fully written off
Changes to inputs used in ECL
calculation
Loss allowance as at July 31, 2021
$
(11,213)
(2,535)
–
–
–
33,867
11,213
–
–
–
50,844
–
15,684
2,275
–
–
(242,228)
64,419
(20,554)
43,778
Stage 1
12-month
ECL
$
Stage 3
Lifetime
ECL
– $
294,900 $
(24,056)
–
Mortgage loans
Loss allowance as at August 1, 2019
Transfers:
Transfer from Stage 1 to Stage 2
Transfer from Stage 1 to Stage 3
Transfer from Stage 2 to Stage 1
Transfer from Stage 2 to Stage 3
Transfer from Stage 3 to Stage 2
Transfer from Stage 3 to Stage 1
New financial assets originated or
purchased
Financial assets fully derecognized
during the period
Loans fully written off
Changes to inputs used in ECL
calculation
Loss allowance as at July 31, 2020
Stage 2
Lifetime
ECL
Stage 2
Lifetime
ECL
140,681 $
17,103 $
– $
–
2,535
–
–
(50,844)
(33,867)
–
–
–
–
–
–
–
–
–
–
–
–
–
17,959
(28,011)
(216,488)
–
–
(52,067)
(216,488)
(171,386)
380,243
–
–
(434,168)
488,440
–
Originated
creditimpaired
664,133 $
– $
Total
821,917
–
–
–
–
–
–
–
–
–
–
–
–
60,308
(16,163)
(26,414)
–
(8,614)
–
–
–
(7,549)
(26,414)
–
–
–
–
245,654
878,304
–
–
- 26 -
1,173,204
760
–
1,720
–
–
60,308
87,902
294,900
Total
878,304 $
Stage 3
Lifetime
ECL
–
(15,383)
(1,720)
–
–
(760)
15,383
–
–
–
Originated
creditimpaired
333,556
1,173,204