Yes, I'd be happy to.
We look forward to the coming into force of the legislation. It's not in force yet, so that final step will need to happen before credit unions can step forward and express an interest or actually move ahead with that option.
It is one option. We do not foresee many credit unions taking advantage of it right away, but there are some that are looking at it very seriously.
What it does is free up a credit union to move beyond provincial boundaries. There are many reasons it may wish to do so, such as in the Atlantic provinces, where there are a number of small credit unions in close proximity but across provincial borders that may wish to work together. It may be a group of members with a common bond. A number of credit unions, in different provinces, that have a unique employee base or ethnic base may wish to work together more. As well, it allows some economies of scale to occur.
Over time we see some credit unions moving in that direction. We don't see a stampede at all, but we do appreciate the option. It puts one more business option on the table that can be part of a business decision. At the end of the day, it will be a business decision.