OREM — The home of Utah Valley University athletics has a new name as Utah Community Credit Union announced a deal with the school Monday to rename the old McKay Events Center the UCCU Center.

The 8,500-seat building, opened in 1996, hosts basketball, volleyball and wrestling, as well as dances, concerts, speeches and commencement ceremonies. The McKay family previously had its name moved to an education building to allow UVU to raise money by reselling naming rights to the arena, which overlooks I-15.

The Utah Valley-based credit union will give UVU $2.5 million over 10 years for the rights.

UVU President Matthew Holland said in a statement that the donation comes at a critical time, with the school experiencing an enrollment boom and declining state funding.

"I couldn't be more delighted with this announcement," Holland said. "I envision it to be a long and very productive association for these 10 years."

The funds will be used for scholarships, the athletics program and other educational priorities, UVU officials said.

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Jeff Sermon, president of UCCU, said his company wanted to invest in education for the local community.

"I've been struck by the prominence UVU has gained recently and the vital role it plays in educating our kids," he said in a statement.

About 500,000 people attended more than 200 concerts, conferences and Wolverines sporting events at the arena in 2009.

— Paul Koepp

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