Credit Union Annual Report 2021 V2 - Flipbook - Page 63
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 carrying value between the beginning and the end of the period due to
these factors. The gross carrying amounts including accrued interest receivable of financial assets below represent the
Credit Union’s maximum exposure to credit risk on these assets.
Mortgage loans
Gross carrying amount 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 in principal and interest
Gross carrying amount as at July 31,
2021
Mortgage loans
Gross carrying amount 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 in principal and interest
Gross carrying amount as at July 31,
2020
Stage 1
12-month
ECL
Stage 2
Lifetime
ECL
– $
203,652,559 $
(4,204,966)
(797,558)
–
–
–
847,909
Stage 3
Lifetime
ECL
4,204,966
–
–
–
240,429
–
47,926,772
217,352
(18,129,281)
–
(8,781,503)
–
–
(83,215)
220,513,932
4,579,532
Stage 1
12-month
ECL
Stage 2
Lifetime
ECL
173,766,611 $
–
(704,850)
1,194,734
–
–
–
3,518,960 $
–
797,558
–
–
(240,429)
(847,909)
–
(200,169)
(216,488)
(679,018)
2,132,505
Stage 3
Lifetime
ECL
1,372,955 $
–
–
(1,194,734)
(178,221)
–
–
45,993,475
–
(13,488,669)
(106)
(3,108,636)
–
–
–
203,652,559
–
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Originated
creditimpaired
– $
207,171,519
–
–
–
–
–
–
–
–
–
–
–
–
–
48,144,124
–
–
(18,329,450)
(216,488)
(9,543,736)
–
227,225,969
Originated
creditimpaired
3,779,971 $
Total
– $
Total
178,919,537
–
704,850
–
178,221
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
45,993,475
–
–
–
(13,854,559)
(45,137)
(3,841,797)
–
207,171,519
(365,890)
(45,031)
(733,161)
3,518,960