Mr. Speaker, credit unions play a very important role in Canada's economy. Many of the credit unions are in the smaller areas where the bigger banks have pulled out because of lack of population. The fact that they are now becoming full members of this competitive process will benefit consumers. We know that credit unions, being of a smaller nature, pay very much attention to their members. They will offer more competitive rates. This will sharpen the pencils of the bigger banks which are sometimes subject to criticism.
In the House of Commons on March 27th, 2012. See this statement in context.