Mr. Brian McCrory:

While is not overtly stated, it seems to be an expectation. One might cynically ask whether one should create a bigger entity simply to sustain the burden of the regulatory cost that has emerged in recent years. The regulatory cost is a considerable burden for many credit unions. It effectively takes money from members' pockets. Credit unions are not against proportionate and relevant regulation but what they are challenged with is a costly exercise. I refer to the creation of the number of statutory instruments that require credit unions to contribute to funds that require efficiencies of scale. This has made some credit unions feel compelled to jump. There may not necessarily have been a very sound underpinning business reason in some mergers. In other cases, there might have been compelling reasons. That is fine but the idea that the creation of economies of scale somehow achieves a better outcome is questionable.