KOHLER, Wis. — When students head for the school store at Sheboygan North or Sheboygan South high schools, they'll now be going to the Kohler Credit Union store.
KCU has purchased the naming rights to the two stores for $60,000. That sponsorship donation will put the KCU name on the stores for five years.
The idea of offering naming rights is the latest twist on efforts by hard-pressed school districts to raise money while curbing tax hikes. The idea of tacking a major donor's company label on a major league stadium or other venue is relatively common, but it's more controversial in public schools.
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However, Mike Schmidt, KCU vice president of business development, community and government relations, says local residents seem to have accepted the idea fairly readily.
The Sheboygan Public Education Foundation is coordinating the naming rights program. Costs range from $650,000 for fieldhouses to $43,000 for community locker rooms.
At a time when banks and credit unions are quick to carp at each other, the naming program provided an opportunity for the two to get along. When KCU decided to make the donation, it discovered Associated Bank had already acquired naming rights to the schools stores. But Associated offered to move their sponsorship from the stores to the school caf?s to accommodate KCU.
In comments at a school board meeting at which the credit union donation was formally accepted, Schmidt noted KCU has been involved in a number of other partnerships with local schools. The list includes an in-school branch at Sheboygan South, financial basics seminars in Hmong and Spanish at Sheboygan South, and financial literacy presentations at all three Sheboygan high schools–North, South and Riverview–plus other schools throughout the county.
The credit union also provides volunteers for the Junior Achievement Program and will hold identity theft presentations at schools.
"Wisconsin is a big state in education," Schmidt said. "That's one of the things we really focus on. Last year a referendum passed for expanding Sheboygan North and Sheboygan South high schools. So they're in the process of doing a major remodeling of those schools.
"In conjunction with that, the Sheboygan Public Education Foundation was established. They decided to establish an endowment fund and offer a naming rights program."
KCU was one of the potential donors contacted by the foundation.
The credit union decided the amount of the donation, broken down over a five-year period, was not out of line with KCU donation policies.
As far as Schmidt is concerned, it's a win-win situation, with the school district getting financial support and the credit union increasing its visibility. –[email protected]
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