MCCU Annual Report - page 78

78
26. Staff Costs:
27. Comparison of Ledger Balances:
Permanent
Shares
Voluntary
Shares
Deposits
Loans
$
$
$
$
General Ledger
76,664,752 1,335,126,053 1,132,537,532 1,835,733,140
Personal Ledger Listing
76,664,752 1,335,126,053 1,132,537,310 1,835,733,139
Differences as at 31st December 2013
-
-
222
1
Differences as at 31st December 2012
-
-
-
-
28. Related Party Transactions:
29. Life Savings and Loan Protection Insurance:
There were life savings and loan protection insurance in force during the year.
30. Fidelity Insurance:
Fidelity Insurance Coverage was adequately maintained during the year.
Credit Union Staff of fifty-two (52) members had savings of $32,242,352 and loans including interest totalling
$148,621,451. During the year three staff members received loans which necessitated waiver of the loan
policy. One Volunteer received a loan which necessitated a waiver of the loan policy. At 31st December 2013,
loans owing by all Committee Members were being repaid in accordance with their loan agreements.
MANCHESTER CO-OPERATIVE CREDIT UNION (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST DECEMBER 2013
At 31st December 2013, the twelve (12) members of the Credit Union's Board of Directors had savings
totalling $6,581,948. Of these twelve Directors, nine (9) had loans totalling $4,023,148. Sixteen (16)
Committee Members had savings totalling $13,911,385. Of these sixteen Committee Members, fifteen (15) had
loans totalling $9,207,005.
Staff costs for the year amounted to $154,421,708 (2012 : $146,769,555).
MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
I...,68,69,70,71,72,73,74,75,76,77 79,80,81,82,83,84,85,86,87,88,...126
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