LAS CRUCES, N.M. — White Sands Federal Credit Union will put its name on New Mexico State University’s basketball arena under a $13 million naming-rights agreement approved unanimously by the university’s Board of Regents.
The Pan American Center will be renamed the “White Sands Federal Credit Union Arena at the Pan American Center” under the agreement, according to KRQE.
The $414-million credit union will pay NMSU $1.3 million annually under the deal.
White Sands FCU already has sponsorship relationships with NMSU athletics, but Athletic Director Joe Fields said the naming-rights agreement will provide additional capital for an athletic department that has grown to 17 programs and approximately 400 student-athletes.
Fields said the agreement is part of the university’s efforts to generate additional revenue for athletics and is comparable to naming-rights arrangements being reached by other universities around the country.
Another Major Credit Union Naming Deal in New Mexico
The agreement is the second major naming-rights deal involving a New Mexico credit union and a university basketball arena this year.
Earlier this year, the University of New Mexico reached a 10-year agreement with Nusenda Credit Union valued at nearly $17.5 million.
Under that agreement, UNM’s basketball arena is known as “The Pit, Powered by Nusenda.”
The White Sands FCU agreement represents another example of credit unions using sports sponsorships and naming rights to expand their visibility in local markets while providing universities with a new source of revenue.
Details of the signage and other branding associated with the new White Sands Federal Credit Union Arena name are still being developed, according to KRQE.
