Stony Brook University and Island Federal Credit Union Announce 10-Year, $7 Million Campus-Wide Corporate Partnership Agreement
Stony Brook University and Hauppauge-based Island Federal Credit Union (“Island”) today announced a 10-year, $7 million corporate advertising sponsorship agreement that reaches across multiple areas of the University community including athletics, arts, academics, medicine, the Veteran’s Home and alumni relations.
The agreement, facilitated under the auspices of the Faculty Student Association (FSA), a 501(c)(3) organization, consists of a long-term arrangement that includes two retail banking branch sites and ATMs at various locations on campus; title sponsorship for the newly renovated 4,000-seat Stony Brook Arena; title sponsorship for the 20-year old Stony Brook Film Festival; partnership in banking education through the Stony Brook University College of Business; support for Stony Brook Medicine programs including the new Stony Brook Children’s Hospital and the Long Island State Veterans Home; and, a commitment to support and provide benefits to Stony Brook University alumni.
“Island Federal Credit Union is extremely proud to partner with Stony Brook University,” said Island Federal Credit Union President and CEO Bret Sears. “This comprehensive partnership with one of the area’s premier institutions gives Island the opportunity to reach a new, much broader group of Long Islanders through our banking presence and extraordinary financial services. Island’s philanthropic support extends throughout the Stony Brook community and will, in turn, benefit not only all of Long Island but New York State as a whole. Island Federal Credit Union is making this investment in Stony Brook University to help ensure that Long Island remains the best place to live, learn, work and raise a family now and for many years to come.”“This agreement with Island Federal Credit Union is a partnership in the truest sense of the word, demonstrated by the high level of involvement in multiple facets of Stony Brook University,” said Stony Brook President, Samuel L. Stanley Jr., M.D. “It is evident by this commitment that Island believes in the Stony Brook University mission, from supporting students in the Division I Athletics program, the College of Business, and through employment opportunities on campus to furthering our community mission by supporting the Film Festival, the Children’s Hospital and the Veteran’s Home. And by investing in alumni programming, Island is not just supporting the campus, it is making a long term commitment to the economic vitality of Long Island and to the state of New York.”
Some of the benefits to the University community provided by Island as part of the agreement include:
- A robust and an elevated level of banking services available to all Stony Brook University community members;
- Financial products designed and marketed specifically to the Stony Brook University community and its alumni;
- Mutual name recognition and branding that will enhance the value of both brands;
- Island Federal Credit Union investment in an “employee pipeline” – a formal internship program and placement relationship providing undergraduates with learning and recruitment opportunities;
- Direct consumer input to Island Federal through a Student Advisory Board which will provide product and relationship insights to Island Federal executives; and,
- New and exciting academic partnerships that can strengthen the Long Island banking sector through education and research.
“Stony Brook also shares Island’s belief in ‘people helping people,’” said Dr. Stanley. “Sharing our success with those around us. Now is the perfect time for these two powerful Long Island leaders to achieve this goal together.”