Mr. Kevin Johnson:

Tiered regulation allows a credit union to have appropriate policies and rules. We are totally cognisant of the need to safeguard members' savings - that is what we all want to achieve - but we want to use them wisely, and the only way we can do so is by matching the needs of the membership of the credit union. Again, we are very conscious of members as consumers as well as owners. They should not suffer because of their desire to do business with their credit unions or related credit unions. There is much scope for us to consider in the future.