Mr. Joe O'Toole:

We very much appreciate the Deputy's question because we have dealt with that from the beginning. The small credit unions are now dealing with very strict rules of governance which take a good deal of ability and time. They are also dealing with the establishment of new services which also take a good deal of time and ability. They are examining the question of risk management in a way they never had to previously with larger amounts of money. Many of them, having regard to concern for their members, will ask whether they can they give their members the best possible opportunity here and they will often ask, in discussion with Mr. John Doyle's team, what their options are. That is the way it begins with a list of things as a top level business plan, followed by a more detailed business plan, due diligence carried out on finance, legalities and human resources and there are related aspects of those. The smaller credit unions will examine this, talk to their members and ask what is the best option for them. It is a very difficult decision in a local area for them to merge but they can tell their members that they will keep the local office, the name will change, it will be run in a more competitive way and they can give them a better service. That is how it tends to happen.