ASU's Wells Fargo Arena will have its name changed to Desert Financial Arena as part of a five-year agreement with the credit union, the University announced on Monday.
Desert Financial Credit Union secured the naming rights to the arena that houses the men's and women's basketball teams, the volleyball team, wrestling and gymnastics for the Sun Devils.
"Desert Financial is committed to communities throughout Arizona, as we are, and especially focused on education," ASU President Michael Crow said to ASU Now. "These shared values form the foundation of a very strong relationship and represent a partnership based on much more than naming an arena."
The deal includes marketing analysis and education opportunities for Desert Financial employees as well as internships from the credit union for students, according to the University's statement.
The credit union will also create degree programs through the University for its employees, a driving force for Desert Financial to arrange the agreement.
"Desert Financial Credit Union’s connection to education comes from our founders; a group of Valley teachers who started with just $78.75 between them. They created an institution that would be of service to educators and students alike," Jeff Meshey, President and CEO of Desert Financial, said to ASU Now. "Our relationship with ASU will strengthen that commitment and be an asset to our employees and our members."
Crow's goal with the partnership is "to be socially embedded and to connect with the community through mutually beneficial partnerships," he said.
The arena, built in 1974, will have its branding changed by Nov. 5 when the women's basketball team hosts Air Force.
Jeffrey Horst is the digital editor-in-chief of The State Press. He previously served as the publication's sports editor and worked at Cronkite News and ArizonaSports.com.