WINSTON-SALEM, N.C. –Allegacy FCU said it has entered into a long-term partnership with Wake Forest University it said is the largest of its kind in the university’s history and which includes naming rights to its football stadium.
Terms of the deal were not released.
The facility, home to the Demon Deacons, will now be known as Allegacy Federal Credit Union Stadium.
In addition, Allegacy will also become:
- An Official Banking Partner of Wake Forest Athletics
- The Exclusive Credit Union of Wake Forest Athletics
- The Official Wealth Management Advisors of Wake Forest Athletics
- The Exclusive Banking Partner of Wake Forest Football
- Wake Forest’s Preferred Student-Athlete Financial Education Provider, “providing the availability of Allegacy financial experts to assist Wake Forest student-athletes with general financial matters and education.”
Broadened Visibility
“Allegacy Stadium anchors the largest sports and entertainment quadrant west of Greensboro and north of Charlotte,” the credit union said in announcing the deal. “As such, it broadens the credit union’s visibility among the cumulative 250,000 fans and 45,000 students who attend Demon Deacons football games and the nearly 20 million total television viewers who watch the Deacs’ football games each year.”
For more than 20 years, the $2.25-billion Allegacy FCU said it has partnered with Wake Forest to advance the community’s wellbeing, noting the University and Atrium Health Wake Forest Baptist Medical Center have SEGs, while the Allegacy Center for Leadership and Character at Wake Forest’s School of Business “accelerates the school’s mission to develop leaders of character to serve the greater good through a proven track record of thought leadership, practical relevance, and partnership across Wake Forest and the broader community.”
Primary focus areas include creating and publishing new knowledge in top academic journals across the world, and integrating ethical leadership and character strengths into courses, academic programs, co-curricular activities, and faculty and staff development programs, the credit union said.
‘Aligned in Mission’
“Allegacy and Wake Forest continue to be aligned in mission, ideals and principles,” said Allegacy President and CEO Cathy Pace. “Our approach to wellbeing is holistic in offering financial products and services that help our members be their best selves. Wake Forest’s motto, Pro Humanitate, similarly is a calling to better the lives of others. With this ongoing partnership, we are each building on a proud legacy and a commitment to innovation in education and wellness.”
Pace serves as a member of Wake Forest’s School of Business Board of Visitors.
Allegacy further noted that it and Wake Forest share a common origin in Winston-Salem, as the land of Wake Forest University’s Reynolda Campus was originally part of the estate of R.J. and Katharine Reynolds, while Allegacy was founded in 1967 as the Reynolds Carolina Credit Union to serve RJR employees.
Coach Expresses Thanks
“On behalf of our Demon Deacons football program, we are all extremely grateful for Allegacy’s support of Wake Forest football and our university overall,” said Head Football Coach Dave Clawson. “This agreement will allow for more financial education for our players to help them create promising futures. I appreciate the thoughtful approach our administration and Allegacy’s leadership put forth into this partnership to help enhance the entire community. We look forward to kicking off the 2023 season inside Allegacy Federal Credit Union Stadium on Aug. 31.”
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