BALTIMORE — Credit unions considering a merger campaign similarto the one executed by Wings Financial Federal Credit Union, maywant to think twice.

That was the consensus of some of the attendees at theAfrican-American Credit Union Coalition's annual meeting. DespiteContinental FCU turning down a merger proposal from Wings FinancialFCU three separate times, the latest turndown was tied to acampaign targeted at Continental members that included a $200inducement to get Continental board's to enter into “good faith”discussions.

“I don't think there will be a proliferation of these [types ofmergers], said Darren Williams, president/CEO of $3.9 billionWescom CU who was also installed a new member of AACUC. “I'm surethat there are plenty of non-credit unions that would love to comein make an offer to members. The [Wings campaign] demonstrates thatcredit unions don't take too well to hostile mergers.”

Bob Harvey, AACUC chairman, said “That type of attitude of 'I'mgoing to take over you,' that's not going to fly with creditunions. It's not good public policy and doesn't support what creditunions are all about.”

A female director at a California-based credit union kept herthoughts succinct: “The members' interest is paramount. The boardis supposed to act on what is in the best interest of themembers.”

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