Texas State University and University Federal Credit Union officials announced May 21 the signing of a multitiered contract for renaming Bobcat Stadium to UFCU Stadium.

The naming rights deal—which is the largest corporate sponsorship in the Sun Belt Conference for naming rights at a football stadium—is a 15-year, $23 million partnership, according to a news release. It is also one of the largest for a college football stadium in Texas.

The background

UFCU has been one of Texas State's "most prominent" corporate partners since 2013, according to a news release. Since then, UFCU has provided nearly $3 million in support of university organizations and initiatives, internships, scholarships, and more.

Texas State President Kelly Damphousse said the announcement was the culmination of an 11-year relationship between UFCU and Texas State. Although there were national brands they could have gone with, partnering with someone local was important to them.

"We're excited to take our long-term partnership with UFCU to this next level. As Texas institutions, we share a commitment to serve our state and to increase access to opportunity and education and growth," Damphousse said.

What you need to know

The member-owned, not-for-profit financial cooperative will now be the official credit union of Texas State University and has plans for opening a full-service branch inside the university's Lyndon B. Johnson Student Center this fall.

UFCU CEO and President Michael Crowl said partnering with one of the leading institutions in Texas and providing financial pathways to success for thousands of people was "transformational."

The full-service branch will offer banking and financial counseling services for Texas State students, faculty and staff.

Going forward

A comprehensive marketing campaign will be launching to promote the university's new partnership in the fall. Any existing Bobcat Stadium signage will be replaced and updated in time for the Bobcats season opener against Lamar University on Aug. 31.