A number of credit unions have found value in sponsoring baseball stadiums and baseball teams around the country, including major league stadiums, minor league stadiums, college stadiums and even youth league fields. These credit unions include:
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Knoxville TVA Employees Credit Union (Knoxville, Tenn.; $1.5 billion in assets), which has the naming rights for TVA Credit Union Ballpark (Johnson City, Tenn.), home of the Johnson City Cardinals, a minor league team.
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GCS Credit Union (Granite City, Ill.; $312 million in assets), which has the naming rights for GCS Ballpark (Sauget, Ill.), home of the Gateway Grizzlies, another minor league team.
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Arrowhead Credit Union (San Bernardino, Calif.; $960 million in assets), which has the naming rights for Arrowhead Credit Union Park (San Bernardino), home of the Inland Empire 66ers, another minor league team.
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Founders Federal Credit Union (Lancaster, S.C.; $1.8 billion in assets), which recently gained the naming rights for Founders Park (Columbia, S.C.), home of the University of South Carolina Gamecocks baseball team.
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Summit Credit Union (Madison, Wis.; $2.4 billion in assets), which has the naming rights for Sun Prairie Summit Credit Union Baseball Field (Sun Prairie, Wis.).
In 2010, another credit union, Municipal Credit Union (New York City; $2.3 billion in assets), acquired the naming rights for MCU Park (Brooklyn, N.Y.), home of the Brooklyn Cyclones, a minor league team.
"In 2010, we were looking at a number of different growth strategies as a result of the financial crisis," Mike Mattone, assistant vice president of public relations and corporate communications for Municipal, said. "In specific, we were focused on brand enhancement, so we wanted to make a statement and put our stamp on something."
The opportunity came along when Keyspan, an energy company that had its name on the stadium where the Brooklyn Cyclones played, was purchased by National Grid, another energy company, which did not want to continue to partnership.
"Since we were already a regular sponsor of the Cyclones, they knew that we had a large presence in Brooklyn and that we wanted to build our brand even more, so they brought the proposal to us," Mattone said.
The team draws an average of 89,000 fans per game, one of the best turnouts in the minor leagues, according to Mattone.
"As a result, our president and CEO, Kam Wong, was very interested in the opportunity," Mattone said.
As part of the agreement, the credit union made sure its signage was very visible in a number of locations and worked with the team to build an express branch location at the side of the stadium.
The credit union and team agreed to an 11-year deal, so the credit union will be there until at least 2021.
However, the credit union's plan involved more than signage.
"One thing we wanted to get out of the partnership was to work with the Cyclones to make sure that part of our commitment to having our name on the marquee was also to give back to the community, which is a very important part of what we do," Mattone said. "One way we realized we could do this was to sponsor youth baseball and softball clinics."
The credit union schedules three to five clinics per year, which take place just prior to Cyclone games.
"We invite up to 100 kids between the ages of six and 14 to come onto the field before the game and learn from the actual players themselves, including base running, throwing and fielding," he said.
What is really meaningful to the kids is not only do they get to learn directly from the players – they also get to see them play in the game right after the clinic.
"In addition, a number of players from the Cyclones have gone on to the major leagues," Mattone said. "It is really meaningful to the kids to see a major league baseball player on TV and remember that he was the one who worked with them one on one a few years previously."
The credit union has seen increases in brand awareness among members and non-members as a result of its sponsorship.
"We can't sign up everyone who walks into the stadium, because they have to be eligible for membership, but a very large portion of the people in the area are with city, state or federal employment," he said. "As a result, we have seen an increased number of people opening accounts onsite. We have also seen a lot of traffic at that branch location overall."
The credit union also has ATMs in the park itself, and Mattone recommended any credit union that is considering putting its name on a ballpark ensure it has exclusive ATM rights within that park.
"Overall, our involvement with the park has been a great way for us to really establish ourselves as a viable presence not only in the Brooklyn community, but in the five boroughs," Mattone said. "MCU Park is now very well known and well recognized in the area."
It has been a definite cost undertaking for the credit union.
"However, our CEO has said that it is now our biggest billboard in the five boroughs," he said. "Not only do we have our name on the marquee, but we also have our name on all of the signage locally that involves directions to MCU Park."
So, for example, when motorists are on the nearby parkway, the exit sign leading to the park says "MCU Park" with an arrow.
In addition, when the local Mets television station doesn't have a Mets game to broadcast, it shows three or four Brooklyn Cyclones game a year, meaning that MCU Park is clearly visible on local television.
"This is without us even having to do any advertising," he said. "In sum, our CEO was very forward-thinking when he initially thought of all of the different visibility benefits that would come from entering into this agreement."
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