ADELAIDE, Australia–Four credit unions here that have been sponsoring a well-known Christmas parade here for nearly 20 years say this will be their last year as the naming-rights sponsors.
People’s Choice Credit Union, Beyond Bank Australia, Credit Union SA and Police Credit Union have been the Christmas Pageant’s collective naming-rights sponsor since 1996, and had invested more than $7.3 million into the event in the 20 years to 2016, according to AdelaideNow.com.
The festive parade saw an estimated 330,000 people line the streets of Adelaide in 2017, with another 119,000 watching the live national TV broadcast, the publication reported.
The credit unions have not issued a statement regarding why they will be dropping their sponsorship. Credit Union Pageant Company Chair Robert Keogh said it had been an “honor and privilege” to bring the pageant to the people of South Australia.
Parade officials said they expect other sponsors will step forward.
The 2018 Credit Union Christmas Pageant will be held on Saturday, Nov. 10.