Ascend Federal Credit Union has entered into a multi-year partnership with Live Nation Entertainment that gives it the naming rights to a new amphitheater in downtown Nashville, Tenn., the credit union announced today.

Ascend FCU has $1.7 billion in assets and about 150,000 members.

Ascend Amphitheater, which is part of the city's West Riverfront Park project [pictured above] will hold its first concert on July 30, 2015.

“The naming rights platform at this beautiful new venue features an array of assets that will bring exciting visibility to the Ascend brand, enhance member benefits and drive member acquisition,” said Andy Peikon, senior vice president of sales at Live Nation, which manages the venue.

Live Nation is a publicly traded entertainment company that owns, among other things, Ticketmaster and produces over 20,000 shows annually.

“We pursue partnerships that lend stability and trust to our brand,” Ascend President and CEO Caren Gabriel said. “Nashville residents are familiar with Ascend through our television and radio advertisements and the construction of two new financial centers here last year. But this amphitheater will make the Ascend brand synonymous with Music City USA.”

Ascend Amphitheater encompasses a 1.5-acre event lawn and has a capacity of 6,800, according to the release.

Live Nation's management agreement with the city of Nashville runs until 2025.