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CINDY ELLEN RUSSELL / AUG. 11, 2011 The field at Aloha Stadium is getting a new name.
The field at Aloha Stadium is now officially “Hawaiian Tel Federal Credit Union Field at Aloha Stadium.”
The credit union is the new naming rights holder for the field replacing Hawaiian Airlines, which did not renew a five-year agreement that expired in December.
Hawaiian Tel Federal Credit Union will pay $275,000 per year over the life of the three-year agreement, the Aloha Stadium Authority said at its meeting today.
Its name will be painted on the new $1.2 million artificial turf in time for the Sept. 10 University of Hawaii season opener against Tennessee Martin.
The airline had paid $2.5 million over the course of its 2011-‘15 deal.
“I know it is far from what we would actually like to see and what was done in the past, but we’re just grateful that Hawaiian Tel Federal Credit Union was willing to step to the plate and negotiate a naming rights agreement for the field,” stadium manager Scott Chan told the authority.
Officials have cited declining attendance at UH games as a factor in the drop.
All account holders should consider finding a new financial institution. It is now public that HawaiianTel FCU is making too much money.
I really like that Hawaiian Tel FCU is making money
Would be nice if they gave back to the members rather than squandering money on the stadium.
agree..this is a bad investment for share holders.
You rather change your financial institution to the banks who caused the housing meltdown and took tarp money? Did you know that the credit unions bailed the banks out? Speak with Aloha and facts. Not with hate and fear. Do you know the difference of a credit union and bank? Also, I am proud that my credit union stepped up. They are good people and I always feel I get good value. Wouldn’t you rather them invest in Hawaii then pay a foreign parent entity; run operations outside of Hawaii or give lavish bonuses of more than $275K to executives who may or may not have roots in Hawaii. Credit Unions are Hawaiian grown. My credit union – Hawaiian Tel FCU’s CEO is local – Born and raised – And always put members first. Compare their rates and fees. I did. That’s why I am a member.
good grief
“Hawaiian Tel Federal Credit Union Field at Aloha Stadium” -Wow that’s a mouthful…
These credit unions no longer represent their members. They don’t give members good interest or loans, but make a lot of money. The money seems to just disappear.
they do for cholo. if you have bad credit they won’t give you the best interest rates.
You’re thinking of churches like New Hope…
Read the headline. The money didn’t disappear, the money went to buying a stadium field. Hawaiian Tel could’ve offered better services, etc. to its customers, but Astro Turf is…well.. Astro Turf.
Hawaiian Tel FCU, just like most (or perhaps all) FCUs on Oahu, receive a real property tax break. Regardless of the assessed values of their properties, they pay $500/year (or $300/year for the past 6 years), as long as the property use qualifies under city exemptions.
For example, for Hawaiian Tel’s main branch at 1138 N. King St., this amounts to a $99,000 tax break. Hawaiian Tel FCU has other branches, so I would guess that a sizeable portion of these naming rights is being indirectly subsidized by Oahu taxpayers.
That’s fine, since this money is being paid back into the State of Hawaii coffers via the stadium.
The City Council looks stupid now. I watched last year when all the credit unions pleaded
poverty saying they could not pay property taxes and the Council bought it.
Why are FCUs given this tax break? Are they “nonprofit” or a “charity”?
They also don’t pay income taxes.
Charities are nonprofits under Sec. 501(c)(3) of the Internal Revenue Code. FCUs are a type of nonprofit under a different section.
Looks they’ll be paying less than the last guy did for naming rights.
So Hawaiian Tel pays 275.000 a year for 3 years, while Hawaiian Air paid 500,000 a year for 5 years. Sounds like the Aloha Stadium Authority dropped their pants and got hosed.
$275K is better than nothing. Getting $0 per year is losing your pants. Better to drop them a little than to lose them completely.
Hawaiian Air bet big on Chow and lost bigtime. Now HTFCU is banking on the upside of Rolo.
Thank you Norm Chow. The guy was a disaster for UH football and everything associated with it.
is the hawaiian tel fcu a non-profit entity???????is so the non-profit status should be taken away and the credit union should compete with the other financial institutions that pay taxes – income and real property etc
And why is that? Why should they be told how to spend their marketing budget? Would you have the same issue if they spent the money on television ads? Probably not, since they’ve been doing that for a number of years now. Should churches be told where they can spend their marketing budget as well? How about politicians? Your comment is complete and utter nonsense…
I think you both are right. One one hand, a non-profit agency is free to advertise however they choose. On the other hand, credit unions are now acting like big banks and are no longer act top represent the interests of a special membership group like they started out as. If you act like a duck and quack like a duck, you’re a big bank.
Quite right. Credit unions care as much about profits, growth, and competition as any bank. They also waste money equally well.
A good first step would be to remove their exemption from real property taxes. They have strong lobbyists, however. It should be noted that while credit unions first started out serving many low income and others that banks would not, it’s now banks who serve more low and moderate income people than credit unions.
Sounds like you are a banker. Lay out the argument objectively. For profit vs non profit, then look at the fees and rates, then compare the compensation, profit and dividends paid back. Yes both are financial institutions but it’s like comparing Neiman Marcus to Target – can’t compare!
Hawaiian Air has just met a new low. Yes, they have the flights we need. But, we pay for it. They are not here for everyday people!
Surprised the Stadium Authority didn’t hit up the Boyd group for this kind of sponsorship. There is already signage throughout the stadium and with all of the money that Hawaii residents deposit into the machines and gaming tables in Las Vegas, this would be a nice way of repaying the community for.
Why would they even have to? With the lame politicians we have here and the fact that we will NEVER see any sort of “legal” gaming in Hawaii, its a no brainer that Hawaii people will continue to spend their dollars in Vegas. And as far as the politicians are concerned, that’s A-OK with them!!
As for HTFCU stepping up to the plate, awesome! They had the budget to do it and they did…why the negative comment???
As the poster from Maui says, Las Vegas doesn’t have to spend too much advertising, since people want to get off the rock and have fun anyway.
And there will always be some negativity toward gaming companies among a few citizens, so naming the whole stadium after a casino business might be controversial. Having signs, commercials, and a few giveaways is enough reminder for those who are gambling inclined.
If we have a winning football team for the next three years…..watch the naming fee’s jump up.
I wonder how the pay per view broadcast on Oceanic will refer to the stadium name. I find it funny that Oceanic will have to keep repeating the Hawaiian Tel name.
BTW Hawaiian Telcom pays Oceanic to broadcast UH football on their network. This isn’t OC 16 we are talking about.
Silly.
Hawaiian Tel FCU is not connected to Hawaiian Telcom, Oceanic’s main competitor. Public perception says otherwise.
Research and tell us some facts, SA. How much, if any, does UH athletics get from this? If not much or none, this is yet another problem of playing in a stadium UH does not own or control. UH continues to lose money in areas like this, where other schools would be getting all or most of this sponsorship money. How can we demand a competitive team, when the financial gap continues to widen.
Apparently we’re locked in to a 3-year deal at roughly half the income. My gut tells me we’re making a big mistake. Hopefully there’s a clause that allows for renegotiating the fee in the remaining 2 years if the Warriors create excitement, fill the stands, and generate other team-related income. Still, mahalo to HTFCU for stepping up when it matters. Coach Rolo has planted the seeds for pride in Manoa, and if we all pitch in and mālama, it will bloom and grow.
Bargain Basement Prices!
HTFCU scored!
Hawaiian Airlines should’ve renewed their sponsorship. They are supposedly the airline of Hawaii. They make millions. Give back to our community!
You rather change your financial institution to the banks who caused the housing meltdown and took tarp money? Did you know that the credit unions bailed the banks out? Speak with Aloha and facts. Not with hate and fear. Do you know the difference of a credit union and bank? Also, I am proud that my credit union stepped up. They are good people and I always feel I get good value. Wouldn’t you rather them invest in Hawaii then pay a foreign parent entity; run operations outside of Hawaii or give lavish bonuses of more than $275K to executives who may or may not have roots in Hawaii. Credit Unions are Hawaiian grown. My credit union – Hawaiian Tel FCU’s CEO is local – Born and raised – And always put members first. Compare their rates and fees. I did. That’s why I am a member.