Certainly.
Credit unions are just as profitable and perform just as well as major banks, but they have a different development model. Witnesses who spoke earlier mentioned the risks, losses and difficulties in assessing risks. However, because of the important relationships it has with its entire community, our credit union has a loan-loss rate that is lower than the overall rate for the Mouvement Desjardins unions.
We specialize in funding unions and associations that have social projects. We are able to monitor the risk analysis thanks to these close relationships we have with the community. I believe that, for credit unions, being able to keep these ties and these roots in their environment is what is most important and what provides structure. They are essential intermediaries in these environments and communities. We must preserve this business model and to do so we must keep this space vibrant throughout Canada.