Issue link: http://www.epageflip.net/i/964842
JM Associates Federal Credit Union Notes to the Financial Statements The following table includes the unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable. Allowance reserves have been determined based on the present value of expected future cash flows, discounted at the loan's effective interest rate, except when the remaining source of repayment for the loan is the operation or liquidation of the collateral. In those cases, the current fair value of the collateral less selling costs was used to determine the specific allowance recorded. Also presented is the average ending principal balance of the impaired loans and the related allowance recognized during the time the loans were impaired. As of September 30, 2017 Unpaid Principal Balance Related Allowance Average Ending Principal Balance With a Related Allowance Recorded: Residential first mortgage real estate $ - $ - $ - Residential second mortgage real estate - - - Consumer secured 286,764 31,255 12,468 Consumer unsecured 177,850 106,564 3,784 With No Related Allowance Recorded: Residential first mortgage real estate $ - $ - $ - Residential second mortgage real estate - - - Consumer secured - - - Consumer unsecured - - - Total: Residential real estate $ - $ - $ - Consumer $ 464,614 $ 137,819 $ 6,637 As of September 30, 2016 Unpaid Principal Balance Related Allowance Average Ending Principal Balance With a Related Allowance Recorded: Residential first mortgage real estate $ - $ - $ - Residential second mortgage real estate 193,048 237 96,524 Consumer secured 214,695 27,864 8,258 Consumer unsecured 148,520 86,474 3,536 With No Related Allowance Recorded: Residential first mortgage real estate $ - $ - $ - Residential second mortgage real estate - - - Consumer secured - - - Consumer unsecured - - - Total: Residential real estate $ 193,048 $ 237 $ 96,524 Consumer $ 363,215 $ 114,338 $ 5,341 22 JM Associates Federal Credit Union • jmafcu.org