Tuesday, April 12, 2016

Fortera Credit Union Buys Naming Rights to Austin Peay University Football Stadium

Governor’s Stadium, the home field of Clarksville, Tennessee-based Austin Peay State University’s football program, will be renamed Fortera Stadium following a 25-year partnership with the credit union.

Fortera Credit Union is paying $2.5 million for the naming rights over that period.

Fortera Credit Union was formerly known as Fort Campbell Federal Credit Union.

Read the story.

3 comments:

  1. Credit union netted $3.5M last year.
    Spending $2.5M on naming rights.
    +200 bps of fee income.
    CFPB going after fee income.
    NIM is 3.69. OPEX is 4.18. So, loses 49 bps were it not for fee income, which likely is going to be less.
    My board would fire me if I brought this idea to them.

    ReplyDelete
  2. Really? $100K a year would get you fired? A marketing expense that gets plenty of local coverage.

    ReplyDelete
    Replies
    1. Your first marketing "expense" is as little fees as possible on the member.
      Your responsibility in operations is to have margins cover expenses.
      Your future for roa is BLEAK.
      You then go commit $2.5M to grow a basic model that is failing the member on the numbers.
      By committing $2.5 M TO naming rights over that period you can take the easy way out and say,w it's "just" 100 grand a year. Not knowing how much fee income will be going down while compliance and competitive costs go up.
      It's an ego decision. Monument to ignorant management that has become complacent with poor performance.
      youre feeing your members bc your operations have become too expensive for your core business. Wake up.

      Delete

 

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.