LONG BEACH, Calif. — California State University Long Beach said it has reached an agreement with LBS Financial Credit Union on a 12-year, $8.5-million sponsorship agreement that will rename the iconic campus sports and events venue the “LBS Financial Credit Union Pyramid.”
The facility houses four of Long Beach State’s Division I intercollegiate athletics programs, including the defending national champions in men’s volleyball, and has long served as a landmark venue for campus milestones, academic celebrations, community-wide events, and a wide range of athletic competitions across multiple sports, spanning all levels – high school to professional, according to the organizations.
‘Impactful Investment’
The $2.11-billion LBS Financial Credit Union, which has served faculty staff, students and alumni of CSULB for 70 years, said it sees the sponsorship as an impactful investment in the university and a symbol of its longstanding commitment to CSULB and the City of Long Beach.
“As one of the nation’s earliest credit unions, and now among the top 5% by asset size, we’ve grown from a small operation in homes and a Wilson High School classroom to a strong regional presence,” said Sean Hardeman, president and CEO of LBS Financial, said in a statement. “Today, we proudly serve anyone who lives or works in the local area, along with the educators and students who shaped our beginnings. We are proud to name this historic structure at Long Beach State – a pillar for the community, much like LBS Financial Credit Union.”
Funds for Scholarships
According to the organizations, the agreement will provide financial support to Long Beach State Athletics, primarily in the form of student scholarships, but will also help fund some programmatic costs and capital improvements.
In addition, the university said that Mike and Arline Walter, who originally named the Pyramid in 2004, when they made both a cash gift and a planned giving commitment to the university, “have agreed to step away from the naming in the interest of clearing the way for a significant new investment in the Beach Athletics programs and its Division I student-athletes.”
