NORFOLK — Old Dominion University and Chartway Federal Credit Union have signed a 10-year branding and sponsorship agreement for the 8,400-seat arena in the Ted Constant Convocation Center complex.
The interior of the Ted will now be named Chartway Arena in recognition of the $4.25 million agreement. Chartway will also become the official credit union of ODU Athletics.
The agreement also establishes the Chartway-Constant Athletic Scholarship Fund. The fund will award a total of $25,000 in scholarships annually to student-athletes. The fund will continue each year throughout the contract.
“I am pleased to expand on our 15-year partnership with Chartway Federal Credit Union,” Old Dominion President John R. Broderick said. “Their investment in ODU and ODU athletics directly reflects their commitment to enhancing the lives of students and the entire Hampton Roads community.”
“We are thrilled to partner with Old Dominion University and build upon our legacy to continue to support education and the broader local community,” said Chartway Credit Union President and CEO Brian Schools. “We’re proud to be expanding our relationship with the largest university in the Hampton Roads area, which demonstrates our credit union commitment to strengthen the communities in which we serve.”
Alonzo Brandon, vice president for university advancement, noted that the scholarships are named for the Constant family and Chartway, both of whom are longtime partners and friends of Old Dominion and beneficiaries to Old Dominion students. “The new agreement with Chartway wouldn’t have been possible without the support of the Constant family,” he said.
Chartway Arena will continue to be home to Old Dominion men’s and women’s basketball games and wrestling matches. The arena will also host career fairs, ODU graduation ceremonies, family-oriented events and concerts. This year, Chartway Arena will feature acts such as international superstar and Grammy winner Lionel Richie and Grammy-nominated comedian Larry the Cable Guy.
Chartway will also host its We Promise Foundation gala at Chartway Arena in October. Since 1999, the credit union and its We Promise Foundation have raised more than $10.5 million to provide life-changing experiences to children facing medical hardship or illness.
In addition to giving back to the community through the scholarship fund, Chartway will offer its members ticket discounts, early-event purchase opportunities, giveaways and more.
OUTFRONT Sports, a division of OUTFRONT Media Inc., facilitated the agreement between Chartway Federal Credit Union and ODU.