FOLSOM, Calif. – SAFE Credit Union said it has entered into a 25-year, $23-million partnership with the city of Sacramento giving it naming rights and other opportunities with a number of well-known facilities, including the Convention Center, Community Center Theater and Outdoor Plaza.
The entire complex will be known as the SAFE Credit Union Convention and Performing Arts District. The Convention Center will be called the SAFE Credit Union Convention Center. The theater will be renamed SAFE Credit Union Performing Arts Center. A new outdoor plaza will be called SAFE Credit Union Plaza.
The naming rights deal means many of the major attractions in downtown Sacramento will be named after credit unions. The hometown NBA team, the Sacramento Kings, play in the Golden 1 Center as part of a naming rights deal with The Golden 1 Credit Union.
SAFE Credit Union said its investment is part of a broader $340 million project to transform the Sacramento Convention Center, Community Center Theater, and Memorial Auditorium into a “truly inclusive city landmark, representing the highest caliber of business tourism, arts, and entertainment. The project ushers in a complete reinvention of eastern Downtown Sacramento as part of a broader remaking of Sacramento’s core.”
'Strengthens the Region'
“SAFE Credit Union is proud to show our commitment to making Sacramento a world-class city with this investment in the SAFE Credit Union Convention and Performing Arts District in downtown Sacramento,” said SAFE CEO and President Dave Roughton in a statement. “For the past 80 years, we’ve walked side by side with our members, civic leaders, and local businesses to build Sacramento into a vibrant, successful city where people dedicate their hard work and talents to helping our region thrive. This investment and 25-year commitment will help strengthen the Greater Sacramento region by creating jobs, expanding business opportunities, and growing California’s capital into a cultural gem.”
Added Sacramento Mayor Darrell Steinberg, “We can be proud that one of our leading city cultural assets will be branded with the name of one of our leading Sacramento businesses,” said Sacramento Mayor Darrell Steinberg.
The $2.9-billion SAFE Credit Union said it is committing to the project “with the understanding” the SAFE Credit Union Convention and Performing Arts District, to be completed in 2020, will “drive economic benefits to downtown and the Greater Sacramento area through increased visitor attraction and spending, creating a healthier business community.”
“This investment reflects on SAFE’s commitment to our region’s economic success by encouraging job creation, supporting local businesses, and enhancing Sacramento’s cultural life,” Roughton added. “SAFE understands that a strong regional economy increases the financial opportunities for all its members, communities, and local businesses.”
Stewardship Shown
The credit union’s chair, Terrance Tremelling, said in a statement, “As the region thrives, so do the economic opportunities to all who live here. Part of SAFE’s stewardship and promise to our members is to promote their financial health so they can enjoy life. Transforming the city core into a dynamic business and arts center lifts the entire region by creating jobs and fostering economic growth. We believe our members will benefit from this exciting reshaping of Sacramento’s downtown and identity.”
SAFE said it will also offer its credit union membership to all new City of Sacramento employees and will provide financial health training through its SAFE@Work program to all City of Sacramento employees.
SAFE and the City of Sacramento will also enter into a long-term treasury relationship supporting the city’s cash flow and liquidity needs.
“We thank the City of Sacramento for providing this opportunity,” Roughton said. “We thank our members for their loyalty and helping make SAFE a strong business partner. We look forward to partnering with the City of Sacramento as we work together to make Sacramento a better place for us all.”