JPSCU AR 2018 finan web

NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31st December 2018
(Expressed in Jamaican Dollars unless otherwise indicated)
8. Financial investments:
2018 2017
$ $
Held-to-Maturity
a) JCCUL Shares - Unquoted 13,106,842 13,106,842
b) JCIA Shares - Unquoted 2,000,000 2,000,000
c) JCCUL Mortgage Bond 49,985,762 48,089,568
d) JCCUL Cu-Premium 41,137,983 39,736,101
e) JNBS Mortgage Bond 10,000,000 10,000,000
f) Government of Jamaica -Debenture 226,000,000 172,449,200
g) Government of Jamaica - Global Bonds 23,372,147 22,947,788
h) Pan Caribbean Variable Rate Bond 2,000,000 2,000,000
367,602,734 310,329,499
Available For Sale
i) Unit Trust 17,369,291 16,552,340
j) Shares - quoted 19,725,835 3,324,968
k) Shares - unquoted 35,609,949 17,103,949
72,705,075 36,981,257
440,307,809 347,310,756
Less: Allowance for expected credit losses under IFRS 9 (5,539,583) -
434,768,226 347,310,756
a)
b)
c)
d)
e)
This represent unquoted shares held in the League. A minimum of one million (1,000,000) shares
must be held with the League for the Credit Union to retain membership status.
This represent a 1.67% ownership of unquoted shares held in Jamaica Co-operative Insurance Agency
Limited (JCIA).
This represent funds invested in the League's Mortgage Fund instruments. These
investments are used to secure joint mortgage facilities, which are extended to the members of the
C
This represents an investment in the Jamaica Co-operative Credit Union League Limited Cu-Premium
investment, maturing every three (3) years.
Jamaica National Building Society Mortgage bond represent fund held with this institution to secure
mortgage facilities, which are extended to the members of the Credit Union.
k) This represents investment in Caribbean Cement Company, National Commercial Bank and JBG
JPS & Partners Co-operative Credit Union 46