The Wings Financial FCU takeover attempt of Continental FCU hasa number of questions that need to be answered. For example, in theproposed Wings payout to Continental members, does everyContinental member get $200, even the ones who, for all intents andpurpose are nearly dormant accounts? The yearend 5300 indicatesthat something akin to $9 million should be the payout to bring thecapital positions into parity between memberships. Otherwise wehave another “confiscation of earnings” on our hands just like thebank conversions we are constantly carping about. In addition tothat, the unrecognized gain on offices and property should befactored in (by appraisal) to make it more even for the Continentalmembers. After all they are the ones who have been paying for themwhile their value has increased. Shouldn't Wings open their booksto Continental reps so that they can ensure they are not handingtheir membership over to a bunch of opportunists who are willing topay $200 for every vote no matter who? Just a ton of questions needto be answered about this hostile takeover attempt before anythinghappens. As an example, the fee dollars per member seem to show adistinct advantage for Continental over Wings. That must beexplained or Continental members will get a rude awakening thatthey are not even thinking about. A cash penalty for a failedattempt should be considered by NCUA to blunt these attempts thatbring discredit to the credit union spirit of co-operation and torealistically reimburse the targeted credit union for efforts tohead off such hostile takeover attempts. Dennis G. Moriarity CEOUNITY Credit Union Warren, Mich.