Mr. Bobby McVeigh:

The 64 credit unions in question have been contacted either by mail and-or by phone and they have taken the decision as outlined. It is a voluntary component of ReBo. We also consulted with people in the Central Bank on the matter. They are now cognisant of the 64. We have said that if the Central Bank can assist or it thinks we can do something different we are happy to help. We do not want to just leave 64 credit unions out there who do not want to talk to us. We want to do everything within our power to talk to them. The simple question I have asked from day 1 of the manager and chairman of the boards is to go back and have an honest discussion with the board and look at where the credit union will be in three years, five years or eight years’ time and establish whether it will be viable. We say to call us if we can help because we believe we can help. We tell people to be objective and to analyse their operation and to see where they will be in three to five years. Those 64 may not be involved but we are not just ignoring them.