Credit union sponsorship
Comerica Theatre in downtown Phoenix has become Arizona Federal Theatre, thanks to a new deal between Live Nation Entertainment and Arizona Federal Credit Union.
The agreement to take over the name-in-title of the venue was an opportunity to increase the credit union's visibility after its recent acquisition of Pinnacle Bank, according to the credit union. Financial terms of the deal were not disclosed.
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"We're excited to add Live Nation to our growing list of partners, including Phoenix Rising, Arizona Humane Society and The 100 Club of Arizona, among many others," Arizona Federal Credit Union President/CEO Ronald Westad said. "Together we're committed to creating a vibrant and active community here in the Valley."
Arizona Federal Theatre is largely a music venue that can also accommodate comedy shows, family events and theatrical productions. It opened in 2002.
Arizona FCU, also based in Phoenix, has $1.7 billion in assets and about 128,000 members.
The credit union isn't the only one in Phoenix that has announced a naming rights deal this year.
In October, Desert Financial Federal Credit Union announced the purchase of the naming rights to Arizona State University's University Activities Center, which is home to the men's and women's basketball teams, as well as the school's wrestling, gymnastics and volleyball programs.
That deal includes continuing education opportunities for credit union members and employees, a marketing and market analysis partnership, as well as an internship program for ASU students. The credit union will pay $1.5 million per year for five years under that agreement. Desert Financial Federal Credit Union has $4.8 billion in assets and about 346,000 members.
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