That is the understandable loss of productivity that occurs and stretches over many months. Given the magnitude of the changes, I believe the staff acquitted themselves very well during this very demanding and stressful period. Having been through the pain, we will start to benefit, in future years, from the capabilities and flexibility of the new system. Despite the recent decline in profitability, our Credit Union is well placed to move forward as part of the Australian credit union movement. Let me conclude by saying this.
Credit unions are quite different from standard corporations - they are somewhat unique.
On the one hand, we manage the business mindful of the principles of co-operation and mutuality while, at the same time, it is clear that we are a servant to commercial realities. We must find the right balance between these two competing forces. To fail to do so will result in an organisation that is either unsustainable in the long term or unrecognisable as a credit union. I am sure that neither of these outcomes would be acceptable to the membership. I now hand you back to the Chairman for questions.