Credit Union Annual Report 2022 - Flipbook - Page 63
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)
The following tables explain the changes in the loss allowance between the beginning and the end of the annual period
due to these factors:
Mortgage loans
Loss allowance as at August 1, 2021
$
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 year
Loans fully written off, net of recoveries
Changes to inputs used in ECL calculation
Loss allowance as at July 31, 2022
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 year
Loans fully written off, net of recoveries
Changes to inputs used in ECL calculation
Loss allowance as at July 31, 2021
Stage 1
12-month
ECL
64,419
Stage 2
Lifetime
ECL
$
Stage 3
Lifetime
ECL
43,778
(53,837)
(34,379)
537
–
–
–
53,837
– $
488,440
(537)
–
–
–
–
–
–
–
–
–
–
–
–
23,655
–
–
–
–
(507,360)
(241,473)
406,967
170,229
(4,696)
69,552
64,474
(21,006)
71,376
(497,191)
(241,473)
358,421
34,379
Stage 2
Lifetime
ECL
$
380,243 $
Total
–
–
–
–
–
–
(5,473)
Stage 1
12-month
ECL
credit-impaired
–
34,379
–
–
–
–
–
23,655
294,900
$
Originated
Stage 3
Lifetime
ECL
–
$
Originated
credit-impaired
878,304
$
–
Total
$
1,173,204
(11,213)
(2,535)
–
–
–
33,867
11,213
–
–
–
50,844
–
–
2,535
–
–
(50,844)
(33,867)
–
–
–
–
–
–
–
–
–
–
–
–
15,684
2,275
–
–
17,959
(24,056)
–
(242,228)
64,419
–
–
(20,554)
43,778
(28,011)
(216,488)
(171,386)
380,243
–
–
–
–
(52,067)
(216,488)
(434,168)
488,440
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