SunTrust Banks announced a multi-year agreement with NASCAR to become the “Official Bank of NASCAR.” SunTrust’s relationship with NASCAR, one of the largest and most popular sports in the country, reinforces the company’s commitment to serve the financial needs of the motorsports industry. Under terms of the agreement, SunTrust will be involved in NASCAR at many levels, including supporting the sport’s diversity initiatives, the NASCAR Craftsman Truck Series, grassroots racing, and various charitable and community programs. In order to best serve the NASCAR community of drivers, owners and teams, SunTrust will build upon its Motorsports Banking Group announced earlier this year. The expanded unit will support both the financial needs of NASCAR’s drivers and teams as well as assist with the sport’s community-related programs that directly benefit the families of NASCAR’s drivers and teams. Sanctioned organizations that will receive immediate support from SunTrust Motorsports Banking include Women’s Auxiliary of Motorsports (WAM), which helps to provide support for the families of NASCAR racers; Motor Racing Outreach (MRO), a non-denominational group that provides religious services for NASCAR and other racing series; and Victory Junction Gang Camp, a retreat for children living with chronic or life-threatening illnesses. SunTrust will also take its sponsorship to the track and broaden the number of NASCAR fans it reaches across the country by becoming an associate sponsor of a NASCAR Craftsman Truck Series team to be named, as well as a contingency award sponsor of NASCAR’s Dodge Weekly Racing Series, NASCAR’s grassroots racing series. This local program will also include sponsorship of several grassroots racing facilities.(Yahoo Biz)(6-19-2004)
