MADISON, Wis. — Summit Credit Union has entered into name, image, likeness (NIL) deals with three University of Wisconsin athletes.
The $6.2-billion credit union, which is also a partner of the university’s athletic department, said the deal is part of the University of Wisconsin Student-Athlete Financial Wellness Ambassador program, which is an effort to increase financial wellness education through student athletes’ social media postings.
The NIL deals are with Sarah Chan, a junior on the rowing team; Kiley Robbins, a junior on the track and field team; and Maty Wilke, a redshirt freshman on the women’s basketball team.
“Summit financial coaches will meet with the student-athletes in educational sessions throughout the semester,” Summit CU said. “The students will post on Instagram during the semester about their personal journey in financial wellness.”
Focus on Women & Financial Wellness
Summit CU said it has been focused on women’s financial wellness since 2007, Summit initiated the ambassador program as part of its new Equity in Money campaign, which is designed to remove systemic barriers for women to build wealth, advance in their careers, buy homes, and save for a comfortable retirement.
According to Summit CU, recent studies show Wisconsin women earn 80 cents for every $1 men earn and experts estimate that at the current rate of progress, women will not receive equal pay until 2067.
“Our goal is to help college students, especially women, become confident through financial wellness early in their lives,” said President and CEO Kim Sponem. “We can accelerate the closing of the gender pay gap with these elite athletes reaching out to their generation stressed by the challenges of personal finance.”
Dovetails With Sponsorship
In addition, Summit CU said the ambassador program dovetails with its previously announced Equity in Money sponsorship of the Fifth Quarter Patio at Camp Randall Stadium, as CUToday.info reported here.
Summit CU has more than 236,000 members.