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U of Idaho - Arena naming (a bit off-T)

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Loyal Coug

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This is weird (probably only to finance, banking, accounting, et posters and nerds - not me I am no nerd. 100% stud muffin).

UI gets a $10 million naming donation for its BB arena - Idaho Central Credit Union (ICCU):
http://www.spokesman.com/stories/2018/jan/04/university-of-idahos-proposed-basketball-arena-get/#/0

And who the heck is ICCU? Any other eastsiders and North Idahoes ever heard of this place?
Apparently they are the biggest CU in Idaho?
https://en.wikipedia.org/wiki/Idaho_Central_Credit_Union

But they don't even have a branch in Moscow. Apparently one in CDA. Wha?

Edit - and this thing is costing $45 million and seats $4,400. Over $1,000/seat? A lot more to the facility than just the court. But just sayin'
 
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How can Martin Stadium still be sitting there for years without a sponsor and frigging Idaho gets 10 large from a credit union?!?
 
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So is A. WSU fundraising inept or did B. ICCU "waste" a good chunk of their marketing budget?
I'd vote for C. - all of the above.
 
I think that the time is ripe for a sponsor to step forward. A new AD and a bean counter president may make it happen. Sgt Schultz's main attribute may be an ability to raise money. With a new AD,they may make enough dough to improve the facilities and make coaches happy.WSU seemingly has always been an somewhat insular university who uses the surrounding wheat fields as a barrier to outside interests. That type of thinking has to stop,But the coming screams about how we are not like that are funny.
 
Loyal Coug said:
This is weird (probably only to finance, banking, accounting, et posters and nerds - not me I am no nerd. 100% stud muffin).

UI gets a $10 million naming donation for its BB arena - Idaho Central Credit Union (ICCU):
http://www.spokesman.com/stories/2018/jan/04/university-of-idahos-proposed-basketball-arena-get/#/0

And who the heck is ICCU? Any other eastsiders and North Idahoes ever heard of this place?
Apparently they are the biggest CU in Idaho?
https://en.wikipedia.org/wiki/Idaho_Central_Credit_Union

But they don't even have a branch in Moscow. Apparently one in CDA. Wha?

Edit - and this thing is costing $45 million and seats $4,400. Over $1,000/seat? A lot more to the facility than just the court. But just sayin'
Click to expand...

Okay, here's my spin:

1. "First seek to understand others, before being understood". (The 7 Habits of Highly Effective People by Dr. Stephen Covey).

2. Maybe ICCU has a huge expansion plan in the next couple of years, with more "financial neighborhood centers"? Notice how I didn't say "branches"? More on brick and mortar branches in my next paragraph:

3. Credit Unions say they are "not for profit", but they really are! They might say members come first, but really, if you knew the salaries and bonuses and of the executive management team, like their Director's and VP's (I'm speaking of you BECU), you would literally fall out of your chair. Also, their marketing and travel budgets are simply crazy.

Yes, their annual advertising and marketing budget is unreal. You would keel over if you knew how much they write a check to sponsor The Mariners, Huskies and Cougar Football.

As you know, Credit Unions, as in Banks, basically make their revenue from loans. As in Auto Loans, Personal Loans, and Mortgages. This is is a huge business. Guess what?

You don't need a branch with U.S. Currency and money in the tills.

No currency and exchange is needed. Just glorified "financial neighborhood centers", where you go in and sign loan documents, or take out your car loan. With electronic signatures and DocuSign, brick and mortars are really not necessary. One exception is Notary, but they can also send out a Remote Signer, that will come to your home or business to sign loan docs.

"A Transactual Business. Not a Bank".

First, you can do business with ICCU from any part of the state, since it's a "transactual business". My guess is that they will be opening up several of these loan "financial neighborhood centers", (without any money in the tills), in the future, and I'm sure Moscow is on their list.

Make sense?
 
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M-I-Coug said:
Okay, here's my spin:

1. "First seek to understand others, before being understood". (The 7 Habits of Highly Effective People by Dr. Stephen Covey).

2. Maybe ICCU has a huge expansion plan in the next couple of years, with more "financial neighborhood centers"? Notice how I didn't say "branches"? More on brick and mortar branches in my next paragraph:

3. Credit Unions say they are "not for profit", but they really are! They might say members come first, but really, if you knew the salaries and executives of their executive management team, like their Director's and VP's (I'm speaking of you BECU), you would fall out of your chair. Also, their annual advertising budget is unreal. You would keel over if you knew how much they write a check to sponsor The Mariners, Huskies and Cougar Football.

As you know, Credit Unions, as in Banks, basically make their revenue from loans. As in Auto Loans, Personal Loans, and Mortgages. This is is a huge business. Guess what? You don't need a branch with U.S. Currency and money in the tills. No currency and exchange is needed. Just glorified "financial neighborhood centers", where you go in and sign loan documents, or take out your car loan.

First, you can do business with ICCU from any part of the state, since it's a contractual business. My guess is that they will be opening up several of these loan "financial neighborhood centers", (without any money in the tills), in the future, and I'm sure Moscow is on their list.

Make sense?
Click to expand...

My point is not whether ICCU can make the payments.

My point is it's f'ing embarrassing that in a state multiple times larger than Idaho in terms of GDP, population, education, etc. there's not ONE entity who would write a check for naming rights?!?!

Not ONE WSU alum hit it big with either Amazon or Microsoft and is sitting on piles of cash?

That's either being way too proud of the price or just god awful salesmanship. Maybe both.

Multiple years of revenue left unrealized.

But it's the alums fault. Riiiiight.
 
Observer11 said:
My point is not whether ICCU can make the payments.

My point is it's f'ing embarrassing that in a state multiple times larger than Idaho in terms of GDP, population, education, etc. there's not ONE entity who would write a check for naming rights?!?!

Not ONE WSU alum hit it big with either Amazon or Microsoft and is sitting on piles of cash?

That's either being way too proud of the price or just god awful salesmanship. Maybe both.

Multiple years of revenue left unrealized.

But it's the alums fault. Riiiiight.
Click to expand...
Did you read my post?
Here's my thoughts. The state of Washington is already saturated with "neighborhood financial centers" throughout King, Pierce and Snohomish Counties. These are gloried loan transaction centers, merely for revenue. Again, the State of Washington has enough Credit Unions that have already capitalized on this.

The state of Idaho is just about 10 years behind. They realize what our state has done, and they'll copy and mirror exactly what BECU has done, which is to create neighborhood financial centers everywhere, (or in Idaho you only need a few), because these are gloried loans centers, and no physical money is exchanged.

If ICCU can increase their loan revenue by 100% with their marketing, (taking away customers from the Big Banks) then they've achieved their goal. Naming an Arena is a start.

Frankly, think ICCU realizes that they're 10 years behind the state of Washington, (we're talking about growth and financial goals), and they are going to start marketing Idahonians' to dump their big banks and come over to the Credit Union.

Bottom line is...there's a lot of money and revenue to be made, and the state of Idaho is virtually untapped. They've seen what BECU has done, and now they're running with it.
 
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M-I-Coug said:
Did you read my post?
Here's my thoughts. The state of Washington is already saturated with "neighborhood financial centers" throughout King, Pierce and Snohomish Counties. These are gloried loan transaction centers, merely for revenue. Again, the State of Washington has enough Credit Unions that have already capitalized on this.

The state of Idaho is just about 10 years behind. They realize what our state has done, and they'll copy and mirror exactly what BECU has done, which is to create neighborhood financial centers everywhere, (or in Idaho you only need a few), because these are gloried loans centers, and no physical money is exchanged.

If ICCU can increase their loan revenue by 100% with their marketing, (taking away customers from the Big Banks) then they've achieved their goal. Naming an Arena is a start.
Click to expand...

Shades of University of Phoenix stadium I guess?

I had to look that one up before posting - I had no idea what the stadium was all about (link below). They have a grass field that rolls outside to get sun? Wow.

https://en.wikipedia.org/wiki/University_of_Phoenix_Stadium
 
If I might interject... I don't think Observer really cares about the business model of CU's. I think Observer is just frustrated that UofI can Geta 10 million dollar sponsor, and WSU can't. With the state of Washington having so many more benefits than Idaho. I see both sides of this. MI, you're spot on, Idaho is just behind the times regarding this and UofI are using it to that to their benefit.

But I'm with Observer. I think the admin/AD/whomever has been waiting for the big whale. That is frustrating as hell.

But on the upside of this. Now WSU has something to hold a comparison to. UofI got $10mill?!?!?! for a stadium that holds less than 8K?!?! And they are on TV HOW MUCH?!?!? So now, anyone thinking about WSU has a gauge. WSU delivers so many more eyes, both at the venue(s) AND on TV. I hope/expect this to move much more quickly. For 2 reasons. We are in the middle of change. That spurs things along. The new AD will see this as an opportunity to shine. Second, I honestly see this UofI has a way to show WSU's worth... which is more than $10 mill.
 
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I am under the impression WSU isn't willing to just grant naming rights to anyone.

I thought they were being selective so we didn't potentially hurt the brand.

The wheat growers of Whitman County Stadium doesn't sound too sexy.

Amazon.com Arena, sounds a bit better.
 
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M-I-Coug said:
Did you read my post?
Here's my thoughts. The state of Washington is already saturated with "neighborhood financial centers" throughout King, Pierce and Snohomish Counties. These are gloried loan transaction centers, merely for revenue. Again, the State of Washington has enough Credit Unions that have already capitalized on this.

The state of Idaho is just about 10 years behind. They realize what our state has done, and they'll copy and mirror exactly what BECU has done, which is to create neighborhood financial centers everywhere, (or in Idaho you only need a few), because these are gloried loans centers, and no physical money is exchanged.

If ICCU can increase their loan revenue by 100% with their marketing, (taking away customers from the Big Banks) then they've achieved their goal. Naming an Arena is a start.

Frankly, think ICCU realizes that they're 10 years behind the state of Washington, (we're talking about growth and financial goals), and they are going to start marketing Idahonians' to dump their big banks and come over to the Credit Union.

Bottom line is...there's a lot of money and revenue to be made, and the state of Idaho is virtually untapped. They've seen what BECU has done, and now they're running with it.
Click to expand...

I read your post. So naming rights are limited to banks and financial institutions. I don't think so.

I'm too lazy to look but there are significantly more businesses and wealthy individuals in the State of Washington than there are in Idaho. it's pathetic that a colossal douchebag like Rob Spear was able to land a $10Million sponsor and the almighty one couldn't or wouldn't. Take your pick.

And that's being fairly disrespectful of douchebags with regard to Spear.
 
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Coug95man2 said:
If I might interject... I don't think Observer really cares about the business model of CU's. I think Observer is just frustrated that UofI can Geta 10 million dollar sponsor, and WSU can't. With the state of Washington having so many more benefits than Idaho. I see both sides of this. MI, you're spot on, Idaho is just behind the times regarding this and UofI are using it to that to their benefit.

But I'm with Observer. I think the admin/AD/whomever has been waiting for the big whale. That is frustrating as hell.

But on the upside of this. Now WSU has something to hold a comparison to. UofI got $10mill?!?!?! for a stadium that holds less than 8K?!?! And they are on TV HOW MUCH?!?!? So now, anyone thinking about WSU has a gauge. WSU delivers so many more eyes, both at the venue(s) AND on TV. I hope/expect this to move much more quickly. For 2 reasons. We are in the middle of change. That spurs things along. The new AD will see this as an opportunity to shine. Second, I honestly see this UofI has a way to show WSU's worth... which is more than $10 mill.
Click to expand...

Correctomundo.

$10 Million is chump change for a host of Washington businesses.
 
Observer11 said:
How can Martin Stadium still be sitting there for years without a sponsor and frigging Idaho gets 10 large from a credit union?!?
Click to expand...

I'll throw in $100 if you name it "Little Brother Field at Martin Stadium".
 
Paying a fat chunk of $ for naming rights makes sense in a big city, or with a big program, where you get a lot of ears and eyeballs even from passersby.

However, seems like a silly strategy to pay millions to get your name out there in a metro area with a population comparable to Pasco.
 
HHusky said:
I'll throw in $100 if you name it "Little Brother Field at Martin Stadium".
Click to expand...
Keep the $100 and go get that white hood for that Jim Owens statue outside Husky Stadium. Maybe Ed Murray can find you a rainbow colored hood since he failed to get King County taxpayers to pay for the stadium rebuild.
 
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