Jacksonville’s longest tenured professional sports franchise has entered into an agreement to play in a stadium named after of one of Jacksonville’s longest continually-operating credit unions.
The Jacksonville Jumbo Shrimp and 121 Financial Credit Union have agreed on a long-term naming rights agreement for the ballpark, pending Jacksonville City Council approval expected ahead of the 2020 season.
121 Financial Interim-CEO David Marovich joined Jacksonville Jumbo Shrimp Owner/CEO Ken Babby and Jacksonville Mayor Lenny Curry to make the announcement that an agreement between the team and the credit union has been reached and legislation will be filed with the Jacksonville City Council to put final approval on the deal.
121 Financial Credit Union has deep roots in Jacksonville dating back 85 years, having been founded as Florida Telco Credit Union in 1935. Relaunched in 2010 as 121 Financial Credit Union, the financial institution’s headquarters are located in Jacksonville’s Riverside neighborhood. The hometown connection and a focus on customer service along with a plan for growth was extremely appealing to Jumbo Shrimp.
“121 Financial Credit Union has been a great community partner and we are extremely excited about their heightened commitment to the Jumbo Shrimp, becoming the naming rights partner of our ballpark,” Babby said. “Any partnership of this magnitude truly is monumental for both sides and it was important to us throughout the process that we align ourselves with an organization whose values and goals parallel our own; and we believe 121 Financial and the Jumbo Shrimp are a perfect match. Great partners and long-term commitments like this allow us to reinvest in our great facility and most importantly allows us to continue to provide the most affordable family entertainment option on the First Coast.”
121 Financial has been a marketing partner of the baseball club for years, ramping up their partnership in recent seasons by becoming the naming rights partner of the Crustacean Corner seating area as well as sponsors of multiple giveaway nights, firework displays and fan appreciation night. The naming rights agreement is the landmark marketing piece the credit union has been looking for as they look toward future growth and increased market presence.
“This is much more than just putting up a sign with our name on a building,” Marovich said. “Our board tasked our executive team to find something in our community that can really take our credit union to the next level as far as branding and recognition with a focus on growing our membership all while hvaing a strng community element involved. The Jacksonville Jumbo Shrimp through thier improved fan experiences and focus on family and affordable activities and their overall impact on our community really goes hand-in-hand with our vision for 121 Financial and we couldn’t be more excited and proud to enter in to this arrangement and solidify ourselves as Jacksonville’s Hometown Credit Union.”
121 will soon announce a variety of member events including free member games, appreciation nights, business games and youth financial education events at the ballpark.
The agreement calls for the stadium to be named 121 Financial Ballpark for a 13-year term, expiring in 2033, the same year the current Jumbo Shrimp lease agreement with the City of Jacksonville runs through. In addition to naming rights of the ballpark, 121 Financial becomes the official credit union of the Jacksonville Jumbo Shrimp along with additional sponsorship and marketing elements. Specific financial details of the agreement were not made public at this time.