In the latest in a recent series of athletic facility-sponsorship deals struck by credit unions, Flagler Credit Union has acquired the naming rights to the football stadium at Florida Atlantic University in Boca Raton.

The 15-year deal is worth $22.5 million.

“The partnership underscores our commitment to supporting our community,” said Brian Waldron, President and CEO of both Dort Financial and Flagler Credit Union. “This stadium is more than just a venue — it’s a place where memories are made, where athletes, alumni, and fans come together to celebrate teamwork, dedication, and excellence.”

The $2.3 billion-asset Dort Financial in Grand Blanc, Michigan, bought Flagler Bank in 2023. Flagler now operates as “Flagler Credit Union, a division of Dort Financial.”

FAU Stadium, which has a capacity of 30,000 seats, opened in 2011. In 2014, the field was renamed Howard Schnellenberger Field in honor of the program’s former head coach.

The school said it has been looking for a right naming partner since the stadium opened. Flagler Credit Union has locations throughout the community FAU serves with branches in Boca Raton, West Palm Beach, North Palm Beach, and Lake Clarke Shores.

The term and value of the deal is the largest corporate sponsorship in the American Athletic Conference for a football stadium and among the largest in the Group of Five conferences, which includes the AAC, Conference USA, Mid-American, Mountain West and Sun Belt, the credit union said in a press release.

In August, The $4.6 billion-asset Northwest Federal Credit Union announced that it had acquired the naming rights for the stadium used by the NFL’s Washington Commanders football team.

That deal reportedly runs through the 2030-31 season with an average annual value in the low $8 million range.

In October, the University of Southern Indiana announced that Liberty Federal Credit Union secured the naming rights to the Screaming Eagles Arena for the next 20 years.

The $4.2 billion-asset credit union in Evansville reportedly paid $10 million for the rights.

But the Independent Community Bankers of America has called these naming deals just another example of credit unions exploiting their tax exemption.

In the most recent deal, Florida Atlantic said Flagler Credit Union will also become the official credit union of Florida Atlantic Athletics and the Florida Atlantic Alumni in 2025.

“This is a historic agreement for Florida Atlantic University, and it not only speaks to the remarkable momentum of FAU, but to the leadership at Flagler Credit Union. They have deep ties to our area and have been a trusted community partner for nearly 25 years,” FAU Director of Athletics Brian White said in the release.

The facility will be recognized as Flagler Credit Union Stadium beginning immediately with this week’s Boca Raton Bowl.

Dort Financial earned roughly $9.5 million through the third quarter of 2024, a 19% decrease compared to a year earlier, according to call report data from the National Credit Union Administration.

“This is a transformational partnership, not only for Florida Atlantic Athletics, but for the entire university.”

 – Stacy Volnick
President
Florida Atlantic University