Credit unions in California, Florida and Hawaii recently signed naming rights deals with college football programs to broaden their brand name recognition with students in an effort to attract a new generation of members.

On Sept. 10, CEFCU Stadium – Home of the Spartans at San Jose State University hosted its first football game against Portland State.

Last month, San Jose State University and the $5.4 billion Citizens Equity First Credit Union announced a $8.7 million, 15-year deal to rename the 30,456-seat stadium after the Peoria, Ill.-based cooperative. In 2008, CEFCU acquired the San Jose-based Valley Credit Union in a purchase and assumption agreement after the California credit union had been placed into receivership.

The Valley name was kept until 2011 when its name was changed to CEFCU. Even though the credit union has been growing its members, deposits and loans by double digits, the San Jose market is very large and CEFCU needed to increase its brand recognition among consumers, CEFCU President/CEO Mark A. Spenny said.

“San Jose is a growth market for us and so this seemed to be something that would benefit everyone involved, including the students and the community by enhancing the athletic programs there,” Spenny said. “And obviously, we hope to increase our name recognition in the market.”

The naming rights funds will be used to support scholarship commitments for student athletes, the university's athletic operations and improve the stadium and other facilities.

Spenny noted San Jose State University is the No. 1 school for engineering graduates, many of whom land jobs at Silicon Valley companies. More than 31,000 students attend the university.

A football field has been renamed Hawaiian Tel Federal Credit Union Field at Aloha Stadium after the Honolulu-based cooperative agreed to pay $275,000 annually over the next three years for the naming rights of the 50,000-seat stadium.

The new name was unveiled Sept. 10 during the first University of Hawaii home game against Tennessee Martin.

According to the Associated Press, Hawaii Airlines paid $2.5 million over five years in its naming rights deal at Aloha Stadium that expired in December.

The stadium's new name, Hawaiian Tel Federal Credit Union Field at Aloha Stadium, is displayed on the field's new $1.2 million artificial turf. More than 18,000 students attend the University of Hawaii.

For $1 million, the $1.3 billion Pen Air Federal Credit Union in Pensacola, Fla., secured the naming rights of a football field at the University of West Florida, which launched its first football program this season.

The venue is named Pen Air Federal Credit Union Field, home of UWF football on the Pensacola Campus.

The credit union has a longstanding relationship with the university.

“Supporting programs like UWF Athletics, the alumni association, financial education boot camps and now Pen Air Field, are some of the many ways we connect and support our vibrant and growing local university and community,” Stu Ramsey, president/CEO of Pen Air, said. “The football program has been a dream for many years and we are proud to be a part of it.”

More than 12,000 students attend UWF.

“This (naming rights deal) is ensuring the future of not only our community but of our credit union,” Pam Hatt, director of marketing, public relations and business development, said. “This is reallocating our marketing dollars and doing things a little bit differently.”

Instant Insights /

Three Credit Unions Ink Naming Rights Deals

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