TODAY'S PAPER
Good Evening
Good Evening
Business

Suffolk Federal Credit Union buys college stadium naming rights 

A proposed rendering for Suffolk Federal Credit Union's

A proposed rendering for Suffolk Federal Credit Union's purchase of naming rights. Credit: Suffolk Federal Credit Union

Suffolk Federal Credit Union has acquired the naming rights to Suffolk County Community College’s Health, Sports & Education Center in Brentwood as part of a partnership between the two organizations that includes a $1.79 million gift to the school’s foundation.

The agreement will provide Suffolk Federal Credit Union with a collegewide naming presence for a minimum of seven years. The credit union also has an option to extend the agreement to 10 years, which would bring the anticipated value of the partnership to more than $2.5 million.  

This amount includes annual scholarships offered to high school or other students entering Suffolk County Community College.

“It’s outside the parameters of what we usually do, but as a credit union based in Suffolk County, supporting a school that primarily serves students from Suffolk County is a very good fit for us,” said Ralph D. Spencer, president and chief executive at Medford-based Suffolk Federal.

The sports and education center will now become known as the Suffolk Federal Credit Union Arena. The 60,000-square-foot facility has three multipurpose courts, running tracks, an eight-lane swimming pool and a fitness center.

Suffolk Federal also presented six high school seniors who will attend Suffolk County Community College this fall with $30,000 in scholarships.

The two-year college has more than 27,000 students.

Suffolk Federal Credit Union operates 10 branches and has about 60,000 members.

More news