Public Service Credit Union (Lone Tree, CO) has agreed to a naming rights deal for the new football stadium with Colorado State University and Learfield Sports.
The credit union will pay $37.7 million over 15 years for the naming rights to the on-campus stadium.
The name of the new stadium will be unveiled in the coming weeks as the credit union is undergoing a rebranding initiative.
According to the press release, this is one of the largest collegiate athletic venue naming agreements in history.
However, shouldn't the credit union use its tax exemption to provide its members with lower fees or better rates instead of buying the naming rights to a college football stadium?
Read the press release.
Keith...before you make such a statement or judgment, it would probably be helpful to either listen to my comments from the press conference, or speak to me directly. I'd be happy to share our rationale and logic, as it relates to serving our members and helping more Coloradans afford life.
ReplyDeleteIs this not just marketing? The same way banks and other companies get their names before the public? Just another related question. Have banks stopped doing this since their federal tax rate dropped to 21%?
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