CFE FCU Pays Almost $4 Million for Arena's Naming Rights

Another credit union has bought the naming rights to an arena.

The latest credit union is Central Florida Educators' (CFE) Federal Credit Union in Lake Mary, Florida. The $1.4 billion credit union paid $3.95 million over 7 years for the naming rights to a 10,000 seat arena at the University of Central Florida.

Going forward, the arena will be known as the CFE Federal Credit Union Arena -- or the CFE Arena for short.

While buying the naming rights will help to improve the credit union's brand visibility, is this the intended purpose of the credit union's tax exemption?

I don't believe so.

Read the press release.