Ms Anne Marie McKiernan:

The need for sector restructuring was a central set of recommendations in the Commission on Credit Unions in 2012 and arising from that, the restructuring board was set up to prompt voluntary and incentivised restructuring. Significant progress has been made on that front. Even this year, we have gone from having 374 active credit unions at the beginning of the year to 339 now.

As for whether there is a number or if I think there is some target in terms of credit union restructuring, we do not have a target number but we certainly see that there are still so many challenges to the viability of credit unions that more restructuring is undoubtedly needed.