sJU5 398im5WjrIJirbeG-Credit Union AGM Booklet 2024 - Flipbook - Page 39
39 Credit Union AGM Booklet 2024
Loans Approved, not Disbursed.
As of 31 July 2024, the total number of loans approved and not disbursed was $17M (2023: $20M).
Loan Portfolio Growth and Mix
The tables below shows the portfolio mix of mortgages and consumer loans. As of 31 July 2024, consumer loans made up
39% (2023: 37%) of the total loan portfolio, an increase of 5%. Mortgages accounted for 61% (2023: 63%), a decrease of
3%. However, consumer and mortgage loans increased by 13% and 5% respectively.
Category
2024
2023
%Change
Vehicles
27,160,192
26,031,063
4%
Land
56,219,782
47,143,087
19%
Personal
12,388,760
10,704,664
16%
Within Share
62,103,497
59,673,048
4%
Unsecured
19,792,536
14,179,122
40%
Total Consumer
177,664,768
157,730,985
13%
Mortgage
279,036,554
265,389,041
5%
Gross Loans
456,701,322
423,120,026
8%
Consumer
2024
2023
39%
37%
61%
63%
Consumer
Mortgage
Credit Risk Asset Classi昀椀cation System (CRACS)
The Credit Union’s loan portfolio credit risk scoring as of 31 July 2024 showed a healthy 92.2% (2023: 94.5%) of loans in the
Satisfactory category, while the Special Mention category increased to 4.3% (2023: 2.7%) due to the impact of members
making late loan payments. The substandard category moved by less than one per cent, no signi昀椀cant change in the
doubtful category, and the loss category moved by 0.1%. See the table below:
Asset Rating
2024
2023
2022
2021
2020
1 Satisfactory
92.2%
94.9%
88.7%
92.8%
87.2%
2 Special Mentions
4.3%
2.7%
6.7%
0.9%
1.5%
3 Substandard
3.1%
2.2%
3.7%
5.1%
9.2%
4 Doubtful
0.1%
0.0%
0.3%
0.4%
0.4%
5 Loss
0.3%
0.2%
0.5%
0.8%
1.6%
