Madam Chairman, members of the executive, ladies and gentlemen, I am delighted to be invited here today to address the Spring Conference of the Credit Union Managers Association. Managers are important stakeholders in the credit union sector and we always welcome the opportunity to hear first hand what issues are to the forefront in credit unions and what are the day to day challenges. We also welcome the opportunity to consult with and get feedback from CUMA on our regulatory initiatives. Discussions between managers and ourselves at CUMA conferences are always frank – some would even say robust – however this, from our point of view, is all the more valuable for informing our regulatory thinking and policy making.
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