Credit Union Annual Report 2022 - Flipbook - Page 61
THE CAYMAN ISLANDS CIVIL SERVICE ASSOCIATION (CICSA)
CO-OPERATIVE CREDIT UNION LIMITED
NOTES TO FINANCIAL STATEMENTS (continued)
July 31, 2022
5. Mortgages and personal loans (continued)
A summary of the gross loan portfolio by nature of loan product is as follows:
2022
Personal loans
Out-of-share loans
Within-share loans
Unsecured:
Overdrafts and cash advances
Total personal loans
$
Mortgage loans
Out-of-share loans:
less than 10-year loans
10 to 15-year loans
15 to 35-year loans
Total mortgage loans
Total loans
July 31
33,228,711
54,661,662
$
13,406,232
$ 101,296,605
$
$
$
43,547,312
42,960,016
173,896,627
260,403,955
$ 361,700,560
2021
32,495,997
50,923,015
13,730,694
97,149,706
25,744,013
50,785,338
150,076,355
226,605,706
$ 323,755,412
The following tables contain the analysis of the credit risk exposure of financial instruments for which an ECL allowance
is recognized. The gross carrying amount including accrued interest receivable of financial assets below also represents
the Credit Union’s maximum exposure to credit risk on these assets.
Mortgage loans
Stage 1
12-month ECL
Stage 2
life-time ECL
Performing loans
Impaired loans
Gross carrying amount
Loss allowance
Carrying amount
$ 246,515,243 $
–
$ 246,515,243 $
(64,474)
$ 246,450,769 $
2022
ECL Staging
Stage 3
Originated
life-time ECL credit-impaired
12,145,240 $
–
12,145,240 $
(71,376)
12,073,864 $
- 25 -
– $
2,416,145
2,416,145 $
(34,379)
2,381,766 $
Total
– $ 258,660,483
–
2,416,145
– $ 261,076,628
–
(170,229)
– $ 260,906,399
