Wednesday, November 20, 2013

California Coast CU to Pay $3.25 Million for Naming Rights to SDSU's Open Air Theater

California Coast Credit Union has agreed to buy the naming rights to the 4,600-seat Open Air Theatre at San Diego State University pending the approval of the California State University’s Board of Trustees.

The $1.8 billion credit union will pay the university $3.25 million over 10 years under the agreement.

The on-campus amphitheater would be renamed the Cal Coast Credit Union Open Air Theatre starting January 1, 2014.

I have commented on several different occasions that I believe the buying of naming rights by credit unions to arenas and theaters represents a misuse of the credit union federal tax exemption.

Read the story.


  1. Keith, are you still against the buying of naming rights for benefit of a publicly funded institution like a state university?

  2. Actually, if you paid state taxes on your income that would be even a greater benefit to state universities.

  3. So would Subchapter S banks that do not pay state/federal corporate taxes.

  4. Subchapter S banks are taxed as pass through entities. The shareholders pay the taxes on the earnings of the banks even if dividends are not paid. In comparison, credit union members do not pay taxes on the retained earnings of credit unions.

  5. $3.25MM paid directly to a university seems much better than it going to a bunch of politicians to only give a fraction of that to education. What a crazy time where the ABA has turned into a bunch of pro tax lefties... but that makes sense since they need the taxpayer money to pay for their bailouts.



The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.