McLean, Virginia-based PenFed Credit Union has expanded its sponsorship deal with the Washington Nationals baseball team in a new three-year agreement.
The new deal creates the “PenFed Military Appreciation Section” in right field at the 41,546-seat Nationals Park in Washington, D.C., according to an announcement this week from the credit union. The expanded sponsorship also includes a permanent outfield wall sign, home plate rotational signage and digital signage.
“This is our way of saying 'thank you' for all that these brave men and women do, and have done, to protect our freedoms as Americans. We are expanding our sponsorship in May in honor of Military Appreciation Month,” PenFed Credit Union President and CEO James Schenck said.
The credit union and the Washington Nationals also established a “Tickets for Troops” program that offers free tickets to former and current military members, as well as Department of Defense civilians. PenFed said it will sponsor the PenFed Kids' Fun Zone, give away promotional items in the PenFed Military Appreciation Section and run the #PenFedSelfie social media program.
Although credit union athletic sponsorships often tend to gravitate toward football and basketball, PenFed, which has $23.4 billion in assets and about 1.7 million members, is not the first to ink a baseball sponsorship.
About two years ago, Edwardsville, Illinois-based Scott Credit Union signed a sponsorship deal for the naming rights of an MVP deck at Busch Stadium, which is the home field of Major League Baseball's St. Louis Cardinals. Scott Credit Union has $1.1 billion in assets and about 141,000 members. Several credit unions have signed sponsorship deals with minor-league teams as well.
PenFed has also been an active supporter of military and veterans' causes. In April, the credit union and its charitable foundation launched a seed capital fund to help veterans start businesses and create a network for veteran-owned businesses[TO5] . Earlier this month, it hosed the 14th Annual Night of Heroes Gala to honor veterans and community supporters.
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