Mr. John Doyle:

The engagement of the Credit Union Restructuring Board, ReBo, with credit unions is on a voluntary basis. We have met 323 credit unions to date. In my opening statement I said that many credit unions face significant challenges in terms of trying to deliver products and services to their members. The credit unions face significant challenges in terms of governance and organisation structures. We in ReBo see structuring as a potential solution and we try to explain it to smaller credit unions. It is evident from our interactions with smaller credit unions that from the business model perspective it is increasingly difficult for them and they will be struggling.