To come back to your initial remarks, I would say you are quite right about the financial sector and the trend towards credit union mergers. In Quebec, the mergers are more or less done. But we are seeing more and more of them in other provinces, and credit unions are becoming bigger and bigger. As you said, that raises the question of whether members' sense of ownership has diminished as a result. That is indeed a drawback.
However, most credit unions see the benefits as outweighing the drawbacks. Those benefits include economies of scale and especially risk diversification so they can invest not just in a single community or city, but also in areas throughout the province, for instance. It was that shift that prompted some credit unions to call on the federal government to create a federal credit union framework, so they can continue down that road.
That being said, a credit union's ability to take advantage of foreign markets may be somewhat limited, because of its structure. We do not think every financial institution absolutely has to be massive. There is enough room in the country for large and small institutions alike. I think you will always see that split in the size of these institutions, despite the current trend towards mergers.