California Coast Credit Union signed a 10-year, $3.25 million naming rights agreement with San Diego State University for its Open Air Theatre.
The San Diego based credit union, the area’s third largest with about $1.8 billion in assets, said in addition to securing the naming rights, the agreement calls for promotional advertising the venue does for concerts. CCCU is also opening a new branch and ATM in the Aztec Student Union building, which is scheduled to open in January.
“We’ve really come full circle because the credit union was originally formed by teachers at the university in 1929 when the school was known as San Diego Teachers College and located on Normal Street (in San Diego’s Mid City neighborhood),” said CCCU spokeswoman Rene McKee.
Signage reflecting the new name will soon be installed at the theater’s main entrance and on the university’s marquee on Interstate 8.
SDSU said the agreement will help finance improvements to the facility that was built in 1941. Among the projects slated are replacing the stage roof, seating and restrooms improvements, and expanding the concourse. The theater holds 4,600 seats.
The contract requires approval of the California State University Board of Trustees which meets in January.
McKee said while the credit union has other sponsorships, including one for the SDSU men’s’ basketball team, this would be the largest sponsor expense. She declined to reveal what the credit union spends on promotions and advertising.
CCCU has about 120,000 members, and 22 branches in San Diego and Riverside counties.
— Mike Allen