Mr. Tim Molan:

On the issue of lending, we are credit unions after all and the harness, in terms of lending, has to be taken off. There is a sector-wide lending restriction on all of us, and I will give the Senator one simple example. The report states that community loans are restricted to 25% of the credit unions' regulatory reserve and given that a credit union's regulatory reserve is 10%, that is 2.5% we can put out into community lending. The Senator is from a rural community. There is a need in rural communities, as there is in urban communities, for community lending.