Mr. Tim Molan:

One of the most important practical actions is that there are between 2 million and 3 million credit union members. They, more than us, need a champion. That champion is this committee. Its oversight and scrutiny over the next several months is critical for going forward. CUAC has isolated several specific areas. There is the spirit and the intention of the commission’s report which was agreed by all stakeholders, the Central Bank and the Department. That has to be followed through. All the questions on the outstanding issues have to be answered to our satisfaction. As bodies, we are up for engagement.

Our job is to manage prudentially the funds of our members and to lend to them. Those are the goals on which we need to pursue and deliver upon.