WNBA, U.S. Bank Will Bank On Making Change Across Basketball Landscape
Thursday, March 10, 2022 at 08:44PM NYSJ Sports-Entertainment Business News Service
March 10, 2022: Positioning it as an alliance that would “support the players and the league in unparalleled ways,” the WNBA has signed a multi-year deal naming U.S. Bank a WNBA Changemaker and the official bank of the league.
U.S. Bank also becomes the official bank of such marquee events as the WNBA Commissioner’s Cup presented by Coinbase, AT&T WNBA All-Star and the WNBA Draft 2022 presented by State Farm.
Financial terms of the pact were not revealed.
NBA Changemakers is a collective of “purpose-driven companies that harness their power to elevate women in sports and support the league’s mission around advancing diversity, equity and inclusion.”
“U.S. Bank’s support as a WNBA Changemaker is exactly what we envisioned when we created this platform, and we are excited that U.S. Bank will share in our mission to support the players and the league in unparalleled ways,” WNBA commissioner Cathy Engelbert said via the league.”
U.S. Bank joins a roster of WNBA Changemakers including AT&T, the official 5G innovation partner of the WNBA; Deloitte, the official professional services provider; official outfitter Nike; and Google, the official trends and fan insights partner of the WNBA.
According to Englebert, “One important element of this partnership was the idea to create financial education programs that will not only offer assistance to the elite athletes of the WNBA during their playing days, but also help set them up for long-term success beyond the court.
“U.S. Bank has shown outstanding commitment to highlighting our players as role models and community leaders, and we look forward to working together to advance the WNBA.”
As an official WNBA Changemaker, U.S. Bank said it would provide players and alumni access to financial resources and would “create programs to increase financial education across the country.”
The WNBA said a “cornerstone of the relationship will be the creation of a new league-wide financial wellness program, where U.S. Bank will implement benefits and resources that include access to advisors for all WNBA players so they can create a game plan for their financial futures.”
As part of the relationship, U.S. Bank will provide financial education and opportunities to WNBA players — from rookies to veterans focusing on their life after basketball on an ongoing basis throughout each year via marquee league events and initiatives.
That includes “providing players with networking and mentorship opportunities, internships, training seminars and work to educate them about the importance of setting financial goals to prepare them for their post-playing careers.
In addition, the WNBA and U.S. Bank said they would “identify and work with a non-profit organization to develop a tailored program aimed at supporting young women in underserved communities.
“This immersive community program, designed to improve financial health and propel economic advancement for women of color, will give aspiring businesswomen access to experts in a wide range of industries to help identify goals and access real business opportunities.”
“At U.S. Bank, we are focused on empowering women leaders, building wealth, and creating access for diverse communities,” Andy Cecere, U.S. Bank chairman, president and CEO, said via the financial firm.
“Our core values line up perfectly with the WNBA in inspiring the next generation of female leaders. We look forward to positively impacting women’s basketball as a WNBA Changemaker, not only by amplifying the sport, but also by focusing on social change alongside these other amazing supporters.”
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