June 22, 2016
Historic partnership strengthened as Cypress-Fairbanks ISD, Cy-Fair Federal Credit Union sign 10-year, $1.5 million deal to support school programs
A stadium naming rights deal between CFISD and Cy-Fair Federal Credit Union, approved by the CFISD Board of Trustees last month, will name the Berry Center stadium “Cy-Fair FCU Stadium” effective July 1.
CYPRESS, Texas (June 22, 2016)— Cypress-Fairbanks ISD and Cy-Fair Federal Credit Union (Cy-Fair FCU) announced today that a final agreement has been signed giving the credit union exclusive naming rights to the stadium located on the campus of the Richard E. Berry Educational Support Center. According to Cypress-Fairbanks ISD Superintendent Dr. Mark Henry, the partnership reflects the school district’s historic connection to the credit union and will help support important educational programs and services that strengthen the local community.
The naming rights agreement between CFISD and the Cy-Fair Federal Credit Union will give the district $1.5 million in revenue over a 10-year contract period
“The agreement between Cypress-Fairbanks ISD and Cy-Fair FCU not only generates revenue for the school district but helps formalize a union between two institutions that have been linked from the beginning,” said Dr. Henry. “Cy-Fair FCU Stadium is both a facility and a name that we are proud of.”
Owned and operated by the school district, the Berry Center is a world-class facility serving local schools and communities throughout the Cypress-Fairbanks area. The center hosts 1.5 million visitors annually for a broad range of athletic, educational and artistic events, including the football games for all 10 of the district’s Class 6A high schools.
Dr. Mark Henry, CFISD superintendent, left, and Cameron Dickey, president of Cy-Fair Federal Credit Union, shake hands after the May 16 Board of Trustees meeting, when the Berry Center stadium naming rights deal was approved.
“The Berry Center is so much more than a sports stadium. It’s a centerpiece of our community and provides an important venue for local events that promote vitality and growth,” said Cameron Dickey, president and CEO of Cy-Fair FCU. “Schools are facing tighter budgets. For the cost of a typical billboard campaign, the money we invest in this sponsorship can support up to three classroom salaries annually and student-enriching programs like art, sports, theater and debate.”
Cy-Fair FCU, which celebrates its 60-year Diamond Anniversary in 2016, was formed in 1956 by 10 Cypress-Fairbanks ISD educators to serve employees of the school district. Over the years, the credit union has contributed more than $420,000 in direct support to Cypress-Fairbanks ISD. In 2013, Cy-Fair FCU launched its Community Only Better initiative, a 10-year pledge to invest $500,000 in programs and causes that enhance the local quality of life. The agreement announced today, which takes effect July 1, 2016, provides $150,000 in support to the school district annually.