Chartway FCU Signs Naming Deal With Old Dominion University
The new agreement also creates a $25,000 annual scholarship fund for student athletes.
The inside of Old Dominion University’s arena will soon showcase Chartway Federal Credit Union’s name, thanks to a new $4.25 million branding and sponsorship agreement.
The 10-year deal will rename the interior of the university’s 8,400-seat arena in its Ted Constant Convocation Center complex to Chartway Arena, according to an announcement from the credit union. The agreement also creates a $25,000 annual scholarship fund for student athletes.
Virginia Beach, Va.-based Chartway Federal Credit Union has $2.2 billion in assets and about 188,000 members. Old Dominion University is in Norfolk, Virginia and has about 24,000 undergraduate and graduate students.
“We are thrilled to partner with Old Dominion University and build upon our legacy to continue to support education and the broader local community,” Chartway Federal Credit Union president and CEO Brian Schools said. “We’re proud to be expanding our relationship with the largest university in the Hampton Roads area, which demonstrates our credit union’s commitment to strengthening the communities in which we serve.”
Chartway Arena will host Old Dominion men’s and women’s basketball games, wrestling matches, career fairs, graduation ceremonies, concerts and other events. Chartway will also become the official credit union of Old Dominion University athletics.
The Chartway deal follows similar deals announced earlier this year, including one between VyStar Credit Union and the City of Jacksonville to rename Jacksonville Veterans Memorial Arena to VyStar Veterans Memorial Arena. Jacksonville-based VyStar Credit Union has $8.6 billion in assets and about 658,000 members.
Late last year, Fort Washington, Penn.-based TruMark Financial Credit Union inked a partnership making it the official credit union of the NBA’s Philadelphia 76ers. St. Louis-based American Eagle Credit Union also signed a multi-year partnership with the St. Louis Blues hockey team to create a new seating area at the city’s Enterprise Center. TruMark Financial Credit Union has $2.3 billion in assets and about 120,000 members.