Wednesday, June 17, 2015

Golden 1 Credit Union Pays $120 Million for Naming Rights to NBA Arena

Golden 1 Credit Union bought the naming rights to an arena where the NBA Sacramento Kings play.

According to an announcement, the new arena will be branded as "Golden 1 Center."

The Sacramento Bee is reporting that the deal is for $120 million over 20 years.

This deal shows that the credit union tax subsidy is being abused.


Read the story.
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2 comments:

  1. AnonymousJune 18, 2015 at 7:55 PM

    Thanks for the TAX EXEMPTION. It allows us to buy naming rights. We could have paid the $120M in dividends to the members but getting a special box with free drinks for the credit union directors and management will always trump paying the peons.

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  2. AnonymousJune 18, 2015 at 11:22 PM

    I thought credit unions were to feed the needy not the greedy. So the members pay interest on loans, pay late payment fees, pay over the card limit fees, NSF fees, etc. And the credit union buys a stadium box. I think the members got the Golden Shaft.

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