I think the credit union system in Canada has demonstrated that it's a very strong set of institutions. We're just as regulated as the banks. Some of the standards aren't quite where banks' standards are yet, but the reality is that our business is pretty bread and butter.
If you look at Alterna, half of our balance sheet is residential mortgages. We write nothing off on those. Half of what's left is secured lines of credit, which are secured by residential real estate and probably have loan-to-values of 25% to 30%. There's virtually no risk to that. Our commercial loan portfolio, which is the rest of it, has zero delinquencies because we're pretty conservative lenders. I think that's true of most credit unions across the country—certainly the large ones.
There are some small ones that are struggling, but they're relatively modest in size, and the regulators are working cooperatively with all of them. I think they will either be wound down in an orderly fashion, like the Holy Rosary Credit Union, or they will be nursed back to health.
Generally, all of the credit unions in Canada collectively have strong capital positions and strong liquidity positions, so I don't think we're more susceptible.