Wake Forest University and Allegacy Federal Credit Union Announce Historic and Innovative Campus-wide Partnership to include Football Stadium Naming Rights

Cathy Pace

​Wake Forest University is thrilled to announce a historic, long-term agreement with Allegacy Federal Credit Union, a leading financial institution and a longtime, trusted partner with mutual deep roots in Winston-Salem. The new multi-year commitment is the largest corporate partnership in Wake Forest University history, deepening Allegacy’s existing partnership with Wake Forest University by establishing the home of Wake Forest football as Allegacy Federal Credit Union Stadium.

Allegacy will also become An Official Banking Partner of Wake Forest Athletics, the Exclusive Credit Union of Wake Forest Athletics, the Official Wealth Management Advisors of Wake Forest Athletics and the Exclusive Banking Partner of Wake Forest Football. Additionally, Allegacy will become Wake Forest’s Preferred Student-Athlete Financial Education Provider, providing the availability of Allegacy financial experts to assist Wake Forest student-athletes with general financial matters and education.

Allegacy Stadium anchors the largest sports and entertainment quadrant west of Greensboro and north of Charlotte. As such, it broadens the credit union’s visibility among the cumulative 250,000 fans and 45,000 students who attend Demon Deacons football games and the nearly 20 million total television viewers who watch the Deacs’ football games each year. Additionally, Allegacy Stadium will host future external events similar to the Sir Paul McCartney concert in May 2022, attended by more than 34,000 fans with tickets purchased by residents in all 50 states, plus D.C., Canada and Mexico.

“Allegacy CEO Cathy Pace and I share a strong commitment to the wellbeing and future of the Winston-Salem community and our region,” said Wake Forest President Susan R. Wente. “I want to thank her and Allegacy’s board of directors and executive leadership team for their deep collaboration and engagement throughout this process as we announce this historic agreement today. Allegacy’s strategic investment in partnership with Wake Forest will support the continued success of both organizations, and provide new, exciting opportunities for Wake Forest students and employees.”

For more than 20 years, Allegacy has partnered with the Wake Forest family to advance the community’s wellbeing. The University and Atrium Health Wake Forest Baptist Medical Center have been longtime members of Allegacy’s Select Employee Group (SEG), offering employees the distinctive benefits of the credit union in strengthening financial wellbeing. The Allegacy Center for Leadership and Character at Wake Forest’s School of Business accelerates the School’s mission to develop leaders of character to serve the greater good through a proven track record of thought leadership, practical relevance, and partnership across Wake Forest and the broader community. Primary focus areas include creating and publishing new knowledge in top academic journals across the world, and integrating ethical leadership and character strengths into courses, academic programs, co-curricular activities, and faculty and staff development programs.

“Allegacy and Wake Forest continue to be aligned in mission, ideals and principles,” says Allegacy’s President and CEO Cathy Pace. “Our approach to wellbeing is holistic in offering financial products and services that help our members be their best selves. Wake Forest’s motto, Pro Humanitate, similarly is a calling to better the lives of others. With this ongoing partnership, we are each building on a proud legacy and a commitment to innovation in education and wellness.”
Pace serves as a member of Wake Forest’s School of Business Board of Visitors.

Allegacy and Wake Forest share a common origin in Winston-Salem. The land of Wake Forest University’s Reynolda Campus was originally part of the estate of R.J. and Katharine Reynolds; Allegacy was founded in 1967 as the Reynolds Carolina Credit Union to serve RJR employees.
 
“Allegacy’s unparalleled commitment to serving their members and improving our community aligns perfectly with our Wake Forest Athletics goal of providing the Best Fan Experience in North Carolina,” says director of athletics John Currie. “From our initial conversation about the concept of Allegacy Stadium to the culmination of this announcement, it has been inspirational to see the synergy of Cathy Pace and her leadership team with our Wake Forest staff. This is a unique opportunity to deepen a partnership which has impacted hundreds of thousands of people across our Winston-Salem community and beyond over the past two decades. And, the extension of Allegacy’s relationship with our School of Business, led by Dean Annette Ranft, along with the Office of Professional & Career Development provides a broader impact on both Wake Forest students and the entire community.”

“On behalf of our Demon Deacons football program, we are all extremely grateful for Allegacy’s support of Wake Forest football and our University overall,” says head coach Dave Clawson. “This agreement will allow for more financial education for our players to help them create promising futures. I appreciate the thoughtful approach our administration and Allegacy’s leadership put forth into this partnership to help enhance the entire community. We look forward to kicking off the 2023 season inside Allegacy Federal Credit Union Stadium on Aug. 31!”

Independent Sports and Entertainment (ISE) assisted in the development of the naming rights and new partnership agreement between Allegacy and Wake Forest.
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“We were impressed with ISE’s professionalism, guidance, knowledge and commitment,” says Allegacy’s Pace.  “Their depth of experience was invaluable in helping us through this process.”

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