Island FCU Buys Naming Rights
Island FCU in Hauppauge, N.Y. has signed a $7 million corporate sponsorship deal with Stony Brook University in Stony Brook, N.Y.
The 10-year agreement includes naming rights to the university's 4,000-seat sports arena. It also includes two retail branch sites and several ATMs throughout the Long Island campus, as well as sponsorship of major events.
The deal "gives Island the opportunity to reach a new, much broader group of Long Islanders," the credit union said in a press release.
Island FCU has approximately $1 billion in assets and serves 32,000 members.
CU, University Team Up On Discount
Guardian CU, West Milwaukee, Wis., has teamed up with Herzing University on a special tuition discount for the credit union's 36,000 members and employees.
The program will offer an ongoing 10% tuition reduction scholarship on all undergraduate and graduate degree programs, as well as savings on continuing education and certification preparation classes and waived enrollment fees.
"We are excited to offer this benefit to our members and staff," said Guardian CEO Steve Wesson in a statement. "We understand the importance of education and the impact it has on building a sustainable community.
The $245 million credit union told Credit Union Journal that it also is working with the university to add Herzing as a select employee group. Guardian is hoping to complete that process by the beginning of next year.
Indiana CUL Elects Board Officers
The Indiana CU League welcomed Kevin Sparks, president and CFO of Crane FCU, Odon, Ind., to the league's board of directors. Sparks began his term at the league's annual meeting last month.
New table officers were also elected. FORUM CU's Doug True will serve as chairman. Matt Lambert of Encompass FCU will serve as vice chairman. Members Source CU's Chuck Donovan is the new secretary, and KEMBA CU's Karla Salisbury will serve as treasurer.
Rounding out the board are Dallas Bergl of INOVA FCU, Dave Fleming of Union Baptist Church FCU, Afena FCU's Frank Fulley, and Kevin Ryan of Financial Center FCU.
Greater Iowa Wins Literacy Award
Greater Iowa CU's ProjectMoney program won the national financial literacy contest held by NerdWallet, a San Francisco-based financial literacy website.
Along with bragging rights, the prize comes with a $1,500 donation from NerdWallet, which will be used to help fund this year's ProjectMoney competition, which is a financial literacy fair for high school students loosely based on the venerable science fair model with a decidedly financial twist: students compete for cash prizes, with $500 going to first place, $250 for second place and $100 for third place.