Credit Union Annual Report 2022 - Flipbook - Page 62
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)
Mortgage loans
Stage 1
12-month ECL
Performing loans
Impaired loans
Gross carrying amount
Loss allowance
Carrying amount
$ 220,513,932 $
–
220,513,932
(64,419)
220,449,513
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
$
4,579,532 $
–
4,579,532
(43,778)
4,535,754
Stage 2
life-time ECL
99,494,554 $
–
99,494,554
(84,158)
99,410,396
Stage 1
12-month ECL
$
Stage 2
life-time ECL
– $
2,132,505
2,132,505
(380,243)
1,752,262
– $
688,558
688,558
(216,882)
471,676
– $
1,201,967
1,201,967
(791,293)
410,674
Total
– $ 100,853,261
–
688,558
–
101,541,819
–
(389,615)
–
101,152,204
2021
ECL Staging
Stage 3
Originated
life-time ECL credit-impaired
1,207,060 $
–
1,207,060
(86,003)
1,121,057
Total
– $ 225,093,464
–
2,132,505
–
227,225,969
–
(488,440)
–
226,737,529
2022
ECL Staging
Stage 3
Originated
life-time ECL credit-impaired
1,358,707 $
–
1,358,707
(88,575)
1,270,132
Stage 2
life-time ECL
95,025,140 $
–
95,025,140
(65,443)
94,959,697
2021
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
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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