Credit union buys stadium naming rights
Cypress-Fairbanks ISD signs $1.5 million deal for 10 years with Cy-Fair institution
The Cy-Fair Independent School District and Cy-Fair Federal Credit Union have announced an agreement to give the financial entity exclusive naming rights to the district’s stadium for 10 years.
On July 1, the stadium, which is adjacent to the Berry Center, officially becomes known as Cy-Fair FCU Stadium.
The deal calls for the CyFair FCU to pay the district $1.5 million for the naming rights, with the funds being used for educational services.
According to the agreement, the credit union will pay the district $150,000 annually until 2026.
“When we opened the Berry Center, there was always the plan and option for naming rights to not only the stadium, but the arena, conference center and theater,” said Teresa Hull, chief of the administrative staff for CyFair ISD. “That was something that was always kind of part of the initial plan to generate additional revenue for the school district.”
The stadium, which is also near the Lone Star CollegeCyFair campus, has never officially had a name. It hosts the football games for all 10 of the
district’s Class 6A high schools.
“The credit union was the first business to reach out and express interest in that, and we were very interested in partnering with them,” Hull said.
“Schools are facing tighter budgets,” said Cameron Dickey, president and CEO of Cy-Fair FCU. “For the cost of a typical billboard campaign, the money we invest in this sponsorship can support up to three classroom salaries annually and student-enriching programs like art, sports, theater and debate.”
Conroe ISD has a similar deal in place with Woodforest National Bank for the naming rights of its stadium.
The Cy-Fair stadium, which has hosted hundreds of community events, celebrated its 10year anniversary in April.
Hull said the district hopes the partnership with the credit union will extend well beyond the initial 10-year deal.
“That is something that can be negotiated and discussed at the end of the agreement,” she said.
The deal calls for all district advertising to reference the stadium as Cy-Fair FCU Stadium and prohibits other financial institutions from advertising within the stadium.
Signage announcing the new name will be place around the façade of the stadium, main entrances of the stadium, press box entries with the cost incurred by Cy-Fair FCU.
“The agreement between Cypress-Fairbanks ISD and Cy-Fair FCU not only generates revenue for the school district but helps formalize a union between two institutions that have been linked from the beginning,” Superintendent Mark Henry said. “Cy-Fair FCU Stadium is both a facility and a name that we are proud of.”
Owned and operated by the school district, the Berry Center serves local schools and communities throughout the CypressFairbanks area.
The center hosts 1.5 million visitors annually for a broad range of athletic, educational and artistic events.