Stony Brook University and Island Federal Credit Union Announce 10-Year, $7 Million Campus-Wide Corporate Partnership Agreement
Agreement includes “Island Federal Credit Union Arena” and “Stony Brook Film Festival Presented by Island Federal Credit Union”
Agreement also includes support of Stony Brook Children’s Hospital, College of Business, LISVH, and Alumni Association
STONY BROOK, NY-October 28, 2014 - 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.”
About Stony Brook University
Part of the State University of New York system, Stony Brook University encompasses 200 buildings on 1,450 acres. Since welcoming its first incoming class in 1957, the University has grown tremendously, now with more than 25,000 students, 2,200 faculty and 20 NCAA Division I athletic programs. Its membership in the prestigious Association of American Universities (AAU) places Stony Brook among the top 62 research institutions in North America. U.S. News & World Report ranks Stony Brook among the top 40 public universities in the nation and Kiplinger named it the 29th best value in public colleges for in-state students and 20th for out-of-state students. One of four University Center campuses in the SUNY system, Stony Brook University co-manages Brookhaven National Laboratory, putting it in an elite group of universities that run federal research and development laboratories. As the largest single-site employer on Long Island, Stony Brook is a driving force of the regional economy, with an annual economic impact of $4.65 billion, generating nearly 60,000 jobs, and accounts for nearly 4% of all economic activity in Nassau and Suffolk counties, and roughly 7.5 percent of total jobs in Suffolk County.
About Island Federal Credit Union
Island Federal Credit Union, headquartered in Hauppauge, N.Y., is a not-for-profit, full -service financial institution, providing affordable banking products and services to Long Islanders. Founded in 1955, Island has grown to be among the top performing credit unions in New York State with nearly $1 billion in assets, serving more than 32,000 members. Island’s successful track record can be attributed to consistently delivering the best rates, no hidden fees, and exceptional service to its members. When banking at Island, members have access to a complete menu of loan and deposit products, including Simply Free Checking accounts, Certificate accounts, IRAs, Auto, Mortgage, Home Equity loans and lines, Island recently added a Best Rate and Best Rewards MasterCard® and the Student Choice College loan to its menu of products. For anytime access, Island offers free 24/7/365 customer service, online banking, bill payer, and mobile banking services. Island has seven full service locations throughout Nassau and Suffolk Counties, conveniently located in Bellmore, Hauppauge, Hicksville, Massapequa, Riverhead, Sayville, and Selden. Island members can also access their Island accounts at more than 5,000 shared credit union branches throughout the country, and over 55,000 surcharge-free ATM networks nationwide. For more information about Island, stop by any branch, visit their website, islandfcu.com, or call (631) 851-1100.
About the Faculty Student Association at Stony Brook University
The Faculty Student Association (FSA) is a not-for-profit auxiliary services corporation licensed by the State University of New York to provide goods and services that contribute to the quality of campus life in a flexible, efficient and responsive manner to support the mission of Stony Brook University. FSA operates with no State support and is responsible for generating revenues to support its services, fund major capital improvements, and contribute to the educational, health care, and outreach missions of the University, the agreement was competitively solicited and bid through the University’s auxiliary
University Media Relations Manager
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