The $1.4 billion CFE Federal Credit Union in Lake Mary, Fla., said it has signed a seven-year, $3.95 million deal to purchase the naming rights of the 10,000-seat UCF Arena, which has been renamed CFE Arena.

Since 2007 when it opened, the arena has hosted University of Central Florida men’s and women’s basketball games, concerts, UCF and high school commencement ceremonies and other events. Men’s basketball alone has attracted 538,457 fans since the arena opened, CFE said in Thursday’s announcement, adding that UCF’s basketball teams are expected to draw national exposure when they move next year into the new American Athletic Conference.

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