JPSCU AR 2018 finan web

NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31st December 2018
(Expressed in Jamaican Dollars unless otherwise indicated)
15. Savings Deposits:
2018 2017
$ $
a) On Call 41,202,467 40,669,108
a) Easy Access Deposits 41,484,676 39,245,084
82,687,143 79,914,192
b) Special Deposits 519,811,284 511,486,322
c) Life Long Savings 304,087,925 325,889,542
d) Fixed Deposits 904,193,311 932,897,929
e) Mortgage Deposits 4,981,637 4,015,589
f) Loan Savings 9,358 4,262
g) Partner Plan Savings 35,322,920 30,379,065
h) Golden Harvest Savings Deposits 57,478,369 53,744,075
i) Christmas Savings 214,015 603,469
j) Motor Insurance Savings 31,116,559 25,231,472
k) Members Mortgage 1,224,465 -
1,941,126,986 1,964,165,917
a) On Call & Easy Access Deposits
Balance at 1st January 79,914,192 90,534,724
Add Deposits 1,071,143,568 853,324,246
1,151,057,760 943,858,970
Less Withdrawals & Transfers 1,067,144,251 863,944,778
Balance at end of year 83,913,509 79,914,192
a) On Call & Easy Access Deposits
These are regular or ordinary deposits used primarily for standing order payments or assisting
members to gain access through the ATM Banking Facility. No interest is paid on these accounts.
b) Special Deposits
Special deposits are for varying periods up to 365 days for which interest is paid at rates of
between 1.0% and 2.5% per annum.
c) Life Long Savings
Life Long Saving Deposits are for a minimum of five (5) years for which interest is paid at rates of
between 2.75% and 4.65% per annum.
d) Fixed Deposits
These represents amounts placed for fixed period at fixed rates of between 2.10% and 3.50% per
51 Annual Report 2018