SAN JOSE, CA -- San Jose State University and the Citizens Equity First Credit Union (CEFCU - pronounced SEFF-cue) have forged an $8.7 million, 15-year partnership agreement to rename the football stadium.
"CEFCU Stadium -- Home of the Spartans" will host its first football game Sept. 10 against Portland State. The California State University Board of Trustees approved the stadium renaming and broader agreement at its July 19 meeting.
"We are very pleased to extend and enhance our relationship with CEFCU to include the naming of the stadium. Since 2011, CEFCU has been a loyal partner with San Jose State Athletics and we've valued its presence in Spartan Stadium. Today's announcement is a long-term extension of our ongoing relationship with CEFCU," Athletics Director Gene Bleymaier said about the renaming of the 30,456-seat venue built in 1933.
This is the only such agreement for a football stadium in the California State University system and one of three in the Mountain West Conference.
"There are many opportunities to invest in student success here at San Jose State," University Advancement President Paul Lanning said. "We hope this partnership motivates other Silicon Valley institutions--public and private--to join with us."
The agreement will help with the funding of scholarship commitments for student-athletes, support and strengthen athletics operations, and improve the stadium and other facilities.
"CEFCU has been proud to support San Jose State University for many years. Since community involvement is extremely important to CEFCU, this new opportunity allows us to continue to support San Jose State through an even stronger partnership while furthering our commitment to the San Jose community. CEFCU is honored to be associated with an institution that excels in both academics and athletics," CEFCU Community President Mark Hoffmire said.
As a community credit union, CEFCU is pleased to serve anyone living, working, or worshipping in Alameda, Contra Costa or Santa Clara Counties in California. CEFCU was founded on the idea of savers helping borrowers and borrowers helping savers. With assets of nearly $5.5 billion, CEFCU serves over 314,000 members through four Member Centers in Santa Clara County and 20 central Illinois Member Centers; the surcharge-free CO-OP ATM Network; the CU Service Center Shared Branch Network; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; and CEFCU Mobile Banking.
About San Jose State University Athletics San Jose State University's athletics program sponsors 20 NCAA Division I sports (7 men's and 13 women's) and offers an intercollegiate athletics experience to at least 470 student-athletes annually. The Spartans compete in the Football Bowl Subdivision (FBS), the highest level of college football. San Jose State is a member of the Mountain West -- a conference of 12 football-playing schools in the Pacific, Mountain and Hawaiian time zones.
About San Jose State University
The founding campus of the 23-campus California State University system, San José State provides a comprehensive university education, granting bachelor's, master's and doctoral degrees in 145 areas of study with an additional 108 concentrations -- offered through its eight colleges.
With more than 32,000 students and nearly 4,370 employees, San José State University continues to be an essential partner in the economic, cultural and social development of Silicon Valley and the state, annually contributing more than 7,000 graduates to the workforce.
The university is immensely proud of the accomplishments of its more than 220,000 alumni, 60 percent of whom live and work in the Bay Area.