LOS ANGELES–Wescom Credit Union and UCLA have announced a 10-year partnership that includes naming rights and other agreements related to nationally an iconic stadium, a nationally known arena and an equally well-known event. The deal is worth $38 million over its decade-long life.
The deal expands on an existing relationship between the credit union and the university, and makes Wescom the official banking partner of UCLA Campus Life, the UCLA Alumni Association, UCLA Athletics and the Rose Bowl Stadium. The deal was struck with UCLA, the Rose Bowl Stadium and IMG.
“Wescom has served Southern California communities for nearly 85 years, and we’re thrilled to deepen our relationship with UCLA in a significant way,” said Wescom CU President/CEO Darren Williams in a statement. “This partnership establishes a comprehensive platform for financial education at UCLA that will equip Bruins to lay the foundation for a long-term, positive financial future, and we are grateful to UCLA’s administration for helping us further this mission.”
Financial Literacy Platform
According to Wescom, central to the partnership is a comprehensive financial literacy platform for the broader UCLA community. The credit union said it will become a substantial provider of financial literacy resources for all UCLA student-athletes, faculty and staff, as well as sponsor the “Financial Wellness Program” for incoming students.
UCLA students, staff and alumni who choose to become Wescom members will also have access to new banking services that will help them make positive financial decisions, including Wescom’s Student Bruin package featuring fee-free checking, mobile banking and overdraft fee waivers.
Wescom said it will further enhance its long-standing history of charitable outreach by supporting the UCLA community with a number of activities and events, such as student cause-related programs, recreation and campus wellbeing initiatives and the Chancellor’s campus-wide Volunteer Day.
Other Elements of Deal
Additional key elements of the multi-year partnership include:
- An on-campus Wescom branch centrally located within Ackerman Student Union -- staffed by students -- along with five on-campus ATMs
- Significant improvements to the Ackerman Student Union patio -- to be recognized as the “Wescom Dining Terrace” -- including expanded seating and shading
- Presenting sponsorship of Pauley Pavilion, the home arena of UCLA’s basketball teams and other sports, including permanent signage reflecting “Edwin W. Pauley Pavilion presented by Wescom.” Funds have been earmarked for preservation of and improvements to the iconic facility, which opened in 1965
- A student-athlete endowment scholarship fund
- A float in the 2020 Rose Parade Wescom’s relationship with UCLA Athletics and the Rose Bowl Stadium began in 2015.
Wescom said the new expanded partnership builds on the work over the past three years it has done to bring the Wescom difference to UCLA fans. “This is an exceptional partnership for UCLA and the Rose Bowl that highlights the vision and progressive thinking that define both entities,” said Tim Pernetti, President, IMG College. “We are proud to facilitate the expansion of the relationship with Wescom that will impact so many areas of the UCLA campus community.”
The $3.9-billion Wescom has nearly 200,000 members.