Utah Valley University officials inked a 10-year, $250,000 a year naming rights agreement this week with Utah Community Credit Union to rename the Events Center the UCCU Center.
Since it opened in 1996, the 8,500-seat facility has been an epicenter of cultural, athletic and business events and activities in Utah County and throughout the region. Located on UVU's panoramic frontage to Interstate 15, the UCCU Center is a high visibility destination facility in Utah County.
UVU officials including President Matthew S. Holland, UCCU executives, representatives from the Utah County Commission and Orem City, and other local leaders of government and industry gathered for a brief public news conference on Monday outside the UCCU Center to announce the new partnership.
"I couldn't be more delighted with this announcement," President Holland said. In addition to the new partnership being a great fit for the University and UCCU, he said the timing of the agreement couldn't have come at a more critical point when UVU is experiencing significant enrollment growth while also wrestling with decreases in state funding.
Funds from the naming rights agreement will go toward furthering the institution's educational goals including scholarships and educational programming, with a portion also going toward UVU's athletic program, Holland said.
"I envision it to be a long and very productive association for these 10 years," Holland said.
Steve Mann, vice chair for UCCU's Board of Directors, said UCCU officials are enthusiastic about adding another successful chapter to the two institutions' partnership.
"Today we are here to celebrate and expand this relationship with UVU," he said. "The Board is delighted with UVU, and this new aspect of our relationship."
Jeff Sermon, president of UCCU, said in that past 30 years both UVU and UCCU have experienced tremendous growth, and have sought to become more involved partners in promoting education among the local community.
"I've been struck by the prominence UVU has gained recently and the vital role it plays in educating our kids," Sermon said. Educational investments made today on behalf of the local will be continue to be felt for generations into the future, he said.
In January, the McKay name previously connected with the Events Center was moved to UVU's McKay Education Building at the request of the original anonymous donor, in part, to free up a naming sponsorship opportunity for a new private revenue source. President Holland and the speakers at Monday's press conference expressed gratitude to the donor for the family's generosity. Orem Mayor Jerry Washburn said it was the collaboration and vision of leaders 20 years ago and the generosity of the McKay anonymous donor family that today's partnership between the University and UCCU possible.
"There was recognition that there was a need for a facility here where events could be held," Washburn said. "[The McKay family contribution] enabled that to happen."
UCCU, founded in 1955, is a well-respected Utah Valley-based full service banking organization that has in excess of 106,000 members, 18 branches in three counties, and has assets totaling $730 million. The University's relationship with UCCU is not new, but rather the continuation of a history that began in the late 1970s when the late Wilson Sorensen, the institution's president from 1945-1982, served on UCCU's board of directors. It continued in 2003 with the awarding of a bid to UCCU for an on-campus branch in the Sorensen Student Center, and again in 2008, when the University and UCCU pioneered a new university identification card program that incorporated features including office door access, a UTA bus pass, and an option to upgrade it into a Visa Debit/ATM card.
The Events Center is governed by a board consisting of representatives from UVU, Utah County and Orem City. The facility serves as headquarters to the UVU athletics department, the NBA's Development League Utah Flash, and many other community events, including high school state tournaments, concerts, conferences, and graduations. It is also home to UVU's renowned culinary arts program.
On average, the Events Center hosts 150-170 events per year, and in 2009, tallied just over 200 concerts, conferences and athletic contests. As many as 500,000 people patronize the Events Center on an annual basis.
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