Tuesday, October 28, 2014

Island FCU Enters into $7 Million Sponsorship Agreement with Stony Brook University

Stony Brook University and Island Federal Credit Union (Hauppauge, NY) have agreed to a $7 million, 10-year corporate advertising sponsorship agreement.

The deal will give the credit union the exclusive naming rights to the school's new 4,000-seat arena. The new arena will be called Island Federal Credit Union Arena.

The credit union will also be the title sponsor of the film festival at Staller Center and several other campus programs for the next decade. Additionally, the agreement calls for two retail banking branches and ATMs at various locations on campus.

While the sponsorship agreement will probably enhance the credit union's brand, it also represents a misuse of the credit union's tax exemption.

Read the press release.
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6 comments:

  1. AnonymousOctober 28, 2014 at 5:25 PM

    "it also represents a misuse of the credit union's tax exemption." Is that a fact or your opinion? Please show me where a tax exempt organizations' marketing choices are directly tied to their tax exemption.

    ReplyDelete
  2. UnknownOctober 28, 2014 at 5:25 PM

    My daughter just started a temp job with a credit union. She really likes what she's doing and the people she works with. I'm glad that it has been a good experience for her.

    Susan Hirst | http://newhorizonscu.com/other-information/about-us/

    ReplyDelete
  3. Keith LeggettOctober 29, 2014 at 7:48 AM

    It is my opinion.

    ReplyDelete
  4. AnonymousOctober 29, 2014 at 9:55 AM

    Keith,
    You repeatedly attack credit union sponsorships (marketing) as an abuse of their tax status/advantage. Why? Banks do it and deduct every dollar! What is the difference? Suggest you focus on other matters where small financial institutions might actually work together to eliminate or reduce regulatory burden.

    ReplyDelete
  5. AnonymousNovember 4, 2014 at 12:39 PM

    Marketing Choices are excessive, no?

    ReplyDelete
  6. AnonymousNovember 5, 2014 at 9:52 AM

    Since crefit union reputation and insurance fund risk are interconnected,,,
    ...large credit unions should be made to pay for the bsa needs of all the (6000?) that are not compliant

    ReplyDelete

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