WW2 German U-Boat Veteran Association Pennant / Commemorative Pennant most likley for the 1982 Funeral of famous WW2 U Boat Captain Adalbert Schnee (commanded multiple U Boats and won the Knights Cross of the Iron Cross with Oakleaves). 
 
Features the wartime U-Boat badge with the Iron Cross instead of the eagle and swastika as was customary for post-war veteran groups, double sided with Hamburg on reverse. Great piece for a Kriegsmarine / U-Boat enthusiast. 27cm x 17cm. 
 
Translation: "U-Boat Comradeship Hamburg, Adalbert Schnee, In the Association of German Submariners". He was Chairman of this association for many years.
 
Adalbert Schnee was a German Lieutenant Commander and Corvette Captain in WW II. He then commanded the U-boats U 6, U 60, U 121, U 201 and U 2511 and was a recipient of the Knight´s Cross with Oak Leaves.