SECU Named Official Banking Partner of the Maryland Terrapins
Today, SECU, Maryland's largest state-chartered credit union, continued its longstanding commitment to Maryland communities with an exclusive 10-year partnership with Maryland Athletics. As "The Official Banking Partner of the Maryland Terrapins," SECU will provide support for students and athletes through scholarships, financial education, and other wellness programs.
SECU will also secure the naming rights to University of Maryland's (UMD) Big Ten football stadium, home of the Maryland Terrapins, which will be known as SECU Stadium. SECU Stadium will debut on October 1, 2022, as Maryland Football opens its Big Ten home opener against Michigan State.
"As Maryland's largest credit union, SECU takes great pride in partnering with Maryland Athletics and the entire University of Maryland, one of the nation's top public universities. Together, we are not only united in our love for Maryland but also in our commitment to positively impacting the people and communities we serve," said Dave Sweiderk, President and CEO of SECU. "As we continue to grow, it is important for SECU to give back to our communities and uphold our dedication to education and financial wellness. That's why we are pleased to contribute to the enduring vitality of UMD, while helping its more than 40,000 students, 14,000 faculty and staff members, and Maryland's next generation of leaders set a foundation for financial success."
The partnership, valued at $11 million over a 10-year term plus additional variable-based compensation, will include financial wellness workshops for students, athletes and the entire campus community. The investment includes a $2.5 million gift that will support programs and facilities, including the construction of the Barry P. Gossett Basketball Performance Center, athletic scholarships, career development, mental health programs, and other support services.
To increase accessibility, SECU will also provide convenient, on-campus ATMs and access to SECU Member Advisors. SECU will provide tools and resources to educate UMD's students, faculty and staff on various financial topics, including full financial wellness reviews and guidance on basic budgeting, new purchases and financing, lending opportunities, and debt management.
To further the partnership and its impact on the community, SECU and its staff volunteers will support a number of UMD's events. UMD will also provide support for SECU-sponsored events, including the Polar Bear Plunge for Special Olympics Maryland, SECU's Kindness Connects campaign and Day of Kindness, and the SECU MD Foundation's Golf Tournament.
"SECU is a longstanding stalwart corporate citizen of the state of Maryland and the University of Maryland is thrilled to be partnering with them on a wide-range of initiatives that will benefit not just Maryland Athletics, but our entire campus community," said Darryll J. Pines, President of the University of Maryland.
"We are proud to welcome SECU into our Maryland Athletics family," said Damon Evans, Barry P. Gossett Director of Athletics. "From the very beginning, we aligned with SECU on goals and objectives, and more importantly, our values. It is our intent to use this partnership to do good for our student-athletes, our university and our communities."