Government Operations committee  I can't add any more to what Darren said. Those are pretty much my thoughts.

Government Operations committee  I don't necessarily have an answer. I have the same issue that Darren has. I know that credit unions tend to be able to survive in lower profitability areas. Just because we're owned by our members there may not be the pressures, though of course we have to earn a profit, and every branch has to pay its way, but maybe not as much as a bank branch.

Government Operations committee  Do you mean individuals? I'm not sure.

Government Operations committee  I'm out of my depth answering that.

Government Operations committee  Yes, I know of one.

Government Operations committee  I can't speak for the credit unions. We have 290 of them, and they all have their own business models. I suspect you would find a core group of credit unions that would be interested in this, and it would probably be coming out of some of our larger credit unions that would be interested in a dialogue with government.

Government Operations committee  It's difficult for me to pronounce on how Canada Post should reform itself or evolve, not being as close to that issue, not being close to Canada Post in any institutional way. That said, I think that if you're facing issues—everything from the pension issues, to declining core services, to labour relations issues, all the things we see rear their head around Canada Post—I have a very difficult time thinking that jumping to a whole new line of business is the way you address those core issues.

Government Operations committee  Sure, but I would just like to finish up my comment, if I could.

Government Operations committee  Within this discussion around the future of Canada Post, the issue of servicing rural and remote areas keeps emerging as part of the dialogue. I'll admit that we as credit unions, as co-operatives, are interested in that issue. At the same time, I don't see using a Canada Post model to serve those communities as a means to deal with its structural issues.

Government Operations committee  Yes, and I've said that a few times. What we are really concerned about is that we don't believe we should establish a stand-alone full-service bank at Canada Post. If you want to have a dialogue about serving rural and remote regions, we're totally open to that. You also do not have to do it through a Canada Post modality.

Government Operations committee  Yes.

Government Operations committee  As I indicated in some earlier comments, there would be an openness for the system to have a dialogue with Canada Post to fill some of those gaps. We are aware of them. We know that they're up in the north. We know that in some indigenous communities, they face challenges. We are trying to serve some of those communities, but it is challenging, especially as they have to be financially viable in some way.

Government Operations committee  I'm going to be very brief because I'm not sure. I don't design the business models, so I feel as though I'm getting into an area where I don't feel comfortable speaking to it.

Government Operations committee  We're heavily involved in what you might call microcredit in the first place. The Canadian Federation of Independent Business just came out with a research study. Every few years they rate the bankers in terms of the quality of service, and credit unions came out on top for lending to microcredit, which is basically defined as institutions of five individuals or less.

Government Operations committee  It's a fact that a number of our credit unions have expressed interest in co-operating with Canada Post, if it is done on terms that are fair in terms of the bidding process or the participation process. As I mentioned, our concern is that if it turns into a bidding process that is exclusive, they may end up not being able to participate as a small institution.