Credit Union Annual Report 2021 V2 - Flipbook - Page 64
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)
Stage 1
12-month
ECL
Personal loans
Gross carrying amount as at August 1,
2020
$ 87,663,380 $
Transfers:
Transfer from Stage 1 to Stage 2
(983,305)
Transfer from Stage 1 to Stage 3
(423,626)
Transfer from Stage 2 to Stage 1
16,617
Transfer from Stage 2 to Stage 3
–
Transfer from Stage 3 to Stage 1
23,263
Transfer from Stage 3 to Stage 2
–
New financial assets originated or
purchased
24,082,804
Financial assets fully derecognized
during the period
(12,302,355)
Loans fully written off
Changes in principal and interest
(3,051,638)
Gross carrying amount as at July 31,
2021
95,025,140
Stage 1
12-month
ECL
Personal loans
Gross carrying amount as at August 1,
2019
$ 84,104,544 $
Transfers:
Transfer from Stage 1 to Stage 2
(62,998)
Transfer from Stage 1 to Stage 3
(240,631)
Transfer from Stage 2 to Stage 1
55,725
Transfer from Stage 2 to Stage 3
–
Transfer from Stage 3 to Stage 1
19,748
New financial assets originated or
purchased
16,006,719
Financial assets fully derecognized
during the period
(11,508,901)
Loans fully written off
(26,838)
Changes in principal and interest
(683,988)
Gross carrying amount as at July 31,
2020
87,663,380
Stage 2
Lifetime
ECL
69,216 $
1,816,110 $
Originated
creditimpaired
Total
– $ 89,548,706
983,305
–
(16,617)
(18,046)
–
14,714
–
423,626
–
18,046
(23,263)
(14,714)
–
–
–
–
–
–
–
–
–
–
–
–
230,039
43,102
–
24,355,945
(24,816)
(93,249)
(347,774)
(619,917)
–
–
(12,420,420)
(347,774)
(3,702,290)
–
97,434,167
(30,735)
1,207,060
Stage 2
Lifetime
ECL
- 29 -
Stage 3
Lifetime
ECL
380,204 $
62,998
–
(55,725)
(114,166)
–
2,841
(60,847)
–
(146,089)
69,216
1,201,967
Stage 3
Lifetime
ECL
1,948,673 $
Originated
creditimpaired
Total
– $ 86,433,421
–
240,631
–
114,166
(19,748)
–
–
–
–
–
–
–
–
–
–
17,495
–
16,027,055
(224,788)
(141,515)
(118,804)
–
–
–
(11,794,536)
(168,353)
(948,881)
–
89,548,706
1,816,110