SECU Scores $11 Million Naming Rights Partnership With Univ. of Maryland Athletics

The $5.1 billion SECU of Maryland ($5.1 billion, Linthicum) secured a 10-year partnership with the University of Maryland’s athletic department valued at $11 million Friday, which will include the naming rights to the university’s football stadium.

The Linthicum, Md.-based credit union is now known as “The Official Banking Partner of the Maryland Terrapins,” and in addition to earning the naming rights to the College Park, Md., stadium, the credit union will support University of Maryland students and athletes through scholarships, financial education and other wellness programs, according to SECU’s announcement.

The stadium will officially become SECU Stadium on Oct. 1, 2022, the same day Maryland Football is set to play its first home game of the 2022-2023 season against Michigan State University.

SECU said it expects to pay the university $11 million over the next 10 years as part of the deal, plus other variable-based compensation, which will include a $2.5 million gift to support programs such as athletic scholarships, career development programs and mental health programs, as well as the construction of the university’s new Barry P. Gossett Basketball Performance Center, according to the announcement.

“As Maryland’s largest credit union, SECU takes great pride in partnering with Maryland Athletics and the entire University of Maryland, one of the nation’s top public universities. Together, we are not only united in our love for Maryland but also in our commitment to positively impacting the people and communities we serve,” SECU President/CEO Dave Sweiderk stated. “As we continue to grow, it is important for SECU to give back to our communities and uphold our dedication to education and financial wellness. That’s why we are pleased to contribute to the enduring vitality of UMD, while helping its more than 40,000 students, 14,000 faculty and staff members, and Maryland’s next generation of leaders, set a foundation for financial success.”

SECU also said it plans to offer its financial services to the University of Maryland community by providing access to on-campus ATMs and SECU member advisors, as well as a variety of financial education programs. In addition, the two organizations will assist one another with their community impact initiatives, with SECU and its staff volunteers planning to support a number of the university’s events and the university set to lend a hand for future SECU-sponsored events, including the Polar Bear Plunge for Special Olympics Maryland, the Kindness Connects campaign and Day of Kindness, and the SECU MD Foundation’s Golf Tournament.

“SECU is a longstanding stalwart corporate citizen of the state of Maryland and the University of Maryland is thrilled to be partnering with them on a wide-range of initiatives that will benefit not just Maryland Athletics, but our entire campus community,” University of Maryland President Darryll J. Pines stated.

This week also brought credit union-college sports partnership news out of New Jersey, with Affinity Federal Credit Union ($3.8 billion, Basking Ridge, N.J.) announcing its partnership with the athletics department at Seton Hall University, a private Catholic institution in South Orange, N.J., on Wednesday.

According to the announcement, the Affinity-Seton Hall Athletics partnership establishes the credit union as the official credit union of Seton Hall Athletics, and will include sponsorship of men’s and women’s basketball, men’s and women’s soccer and baseball; participation in campus events such as Freshman Move-in Day, Involvement Fair and University Weekend; and a strong marketing presence on Seton Hall Athletics’ radio network and social and digital platforms.

Financial terms of the deal were not disclosed, but Affinity noted that the relationship was secured by the university on behalf of Seton Hall Sports Properties, a local team dedicated to Seton Hall and owned by sports marketing company LEARFIELD.

“Affinity has a long history of being involved with its surrounding communities, including the students and faculty at Seton Hall University,” Affinity Chief Strategy Officer Jacqui Kearns stated. “We are dedicated to increasing the financial well-being of communities in the New Jersey area and are excited to have the opportunity to collaborate with the historic and powerful brand of Seton Hall Athletics.”