Dr. Robert Kelly:

To return to our previous point, they are particularly well-suited, if we feel that the likes of the pillar banks have business models which do not allow for the same level of relationship banking as previously, credit unions, as the witness says, would have local knowledge. If there is this belief that banks on a larger scale cannot price credit accordingly to information which is slightly "softer" and is hard to gather on scale, that creates potential business opportunities for credit unions. They can see through some of the different levels of risk and being based in the local community could give them an avenue to expand.