Credit Union Annual Report 2022 - Flipbook - Page 66
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)
Stage 1
12-month
ECL
Personal loans
Gross carrying amount as at August 1,
2021
$ 95,025,140 $
Transfers:
Transfer from Stage 1 to Stage 2
(1,032,797)
Transfer from Stage 1 to Stage 3
(432,102)
Transfer from Stage 2 to Stage 1
448,189
Transfer from Stage 2 to Stage 3
–
Transfer from Stage 3 to Stage 1
11,556
Transfer from Stage 3 to Stage 2
–
New financial assets originated or
purchased
26,873
Financial assets fully derecognized
during the year
(11,009,772)
Loans fully written off, net of recoveries
–
Changes in principal and interest
16,457,467
Gross carrying amount as at July 31,
2022
99,494,554
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 year
(12,302,355)
Loans fully written off, net of recoveries
–
Changes in principal and interest
(3,051,638)
Gross carrying amount as at July 31,
2021
95,025,140
Stage 2
Lifetime
ECL
1,207,060 $
1,032,797
–
(448,189)
(113,439)
–
25,009
6,575
(391,719)
–
40,613
1,358,707
Stage 2
Lifetime
ECL
69,216 $
Originated
creditimpaired
1,201,967 $
–
Total
– $ 97,434,167
–
113,439
(11,556)
(25,009)
–
–
–
–
–
–
–
–
–
–
–
–
14,972
–
48,420
432,102
(1,193,014)
(797,354)
953,011
688,557
Stage 3
Lifetime
ECL
–
–
–
(12,594,505)
(797,354)
17,451,091
–
101,541,819
Originated
creditimpaired
1,816,110 $
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)
–
(30,735)
(93,249)
(347,774)
(619,917)
–
–
(12,420,420)
(347,774)
(3,702,290)
–
97,434,167
1,207,060
- 30 -
Stage 3
Lifetime
ECL
1,201,967
