3 CUs Announce Sponsorships with Pro Sports Teams

Three credit unions have recently announced sponsorship agreements with professional sports teams.

First Entertainment Credit Union (Hollywood, CA) inked a multi-year sponsorship agreement with the Los Angeles Lakers. First Entertainment will be the Official Credit Union of Lakers. The sponsorship includes extensive in-arena branding and promotions during Lakers home games and at Lakers-related events at L.A. Live. In addition to becoming the team’s Official Credit Union, First Entertainment is launching an individual partnership with Lakers forward Anthony Davis.

Arizona Federal Credit Union (Phoenix, AZ) renewed its partnership with Phoenix Rising Football Club for three years, as its official credit union. As part of the partnership agreement, the credit union will offer exclusive co-branded products.

Philadelphia Union II and Sun East Federal Credit Union (Aston, PA) announced a multiyear partnership which includes making Sun East the official jersey sponsor of Union ll. Sun East Federal Credit Union will appear on both the home and away jerseys beginning with the 2020 USL Championship season.

However, the price tag of these sponsorship agreements were not disclosed.

Kinecta FCU and MLS LA Galaxy Ink Partnership Agreement

Major League Soccer (MLS) LA Galaxy and their home stadium, StubHub Center, have launched a marketing partnership with Kinecta Federal Credit Union (Manhattan Beach, CA).

Kinecta was named the exclusive financial services partner of the LA Galaxy and the StubHub Center.

In addition, the credit union received the naming rights to the LA Galaxy's Torrance-bases indoor soccer and recreational facility, which will be known as Kinecta Soccer Center.

The terms of the partnership deal were not disclosed.

Read more.

Unison Credit Union Buys Naming Rights to Youth Baseball Complex

Unison Credit Union (Kaukauna, WI) paid $375,000 to Kaukauna Youth Baseball for the naming rights to the organization's new baseball complex in Harrison.

The funds will be used to build four baseball diamonds. The facility will also include a concessions stand, restrooms, batting cages, a pavilion, a playground and 220 parking stalls.

Read the story.

Teachers Credit Union Buys Naming Rights to High School Football Field

The buying of naming rights to arenas and sports venues is becoming a regular occurrence within the credit union industry.

The latest credit union to buy the naming rights to a sports venue is Teachers Credit Union (South Bend, IN).

The largest credit union in Indiana will pay $140,000 over the next 12 years for the naming rights to Freed Field at Penn High School (Mishawaka, IN).

The stadium will be called Teachers Credit Union Freed Field.

Read more.

Summit FCU's Edgy Anti-Bank Ad Brings Unwanted Scrutiny

Social media experts are saying that an edgy bank bashing ad by Summit Federal Credit Union of Rochester, N.Y. missed the mark.

The story appearing on the American Banker website (no relationship to the American Bankers Association) compared Summit's ad to a negative political campaign ad and noted that Summit did not offer any details on how it is different.

"One reason that Summit may have shied away from direct comparisons is that the credit union itself levies a wide range of the sorts of service charges that customers loathe —from fees for inactivity to those for monthly account maintenance, paper statements and early account closures.

Nor did efforts to contact the credit union indicate that it is particularly responsive to callers. American Banker spent many minutes on hold on Summit’s customer service line trying to reach a representative. Its call was then transferred to a voice mail recording. Ultimately, a Summit representative responded to a request for feedback about its video in an email message stating that it declined to comment."