Mr. Kevin Johnson:

This relates to what I raised regarding the urgent need to look at the classes of investments. As funds come into the credit union, it can lend them out or invest them. Due to the very strict liquidity requirements and the very restrictive classes of investments, it effectively means putting it on deposit. One bank announced in early January that it was going to apply a negative rate, in other words, it was going to charge credit unions 0.25% for the privilege of keeping their funds there. That was rapidly followed by another large bank, a State-owned one, that increased that to a negative 40 basis points. Between that and the withdrawal of some of the banks from the market, it is a serious compression on the counter parties available to credit unions. Unless we get the rules changed and allow credit unions to compete and offer more services, their options about what to do with that money are seriously compressed.