Ms Noreen Byrne:

I am less worried about this one. When a credit union wishes to develop new products or services, it is cumbersome to be obliged to bring the proposals to an annual general meeting and all of that. However, a proposed major change of direction should be brought before the membership. When it is brought before the membership, one must think it through well and must justify it and in a sense, this also reduces the risk. While it increases the efficiency in the short term, it introduces risk for the long term.