Jacksonville Jumbo Shrimp Owner/CEO Ken Babby was joined by 121 Financial Interim-CEO David Marovich along with 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. In 2018, the Jumbo Shrimp entered into a long-term lease extension with the City, committing to continuing to provide great affordable family entertainment to the Jacksonville community for years to come.
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. That hometown connection and a focus on customer service along with a plan for growth was extremely appealing to the Jumbo Shrimp.
“121 Financial 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” said Babby. “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 many years, ramping up their partnership in recent seasons becoming the naming rights partner of the Crustacean Corner seating area as well as sponsors of multiple giveaway nights, fireworks displays, and fan appreciation night. The naming rights agreement is the landmark marketing piece the credit union has been looking for as they have an eye to future growth and increased market presence.
“This is much more than just putting up a sign with our name on a building” commented Marovich. “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 having a strong community element involved. The Jacksonville Jumbo Shrimp through their 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.”
The agreement calls for the stadium to be named 121 Financial Ballpark for a thirteen-year term, expiring in 2033, the same year the current Jumbo Shrimp lease agreement with the City of Jacksonville runs through. In addition to the 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.
121 Financial is working closely with the Jumbo Shrimp to develop new community and member initiatives for the upcoming inaugural season at the 121 Financial Ballpark. These are to be announced shortly.