SunTrust sponsored Bill Lester's Truck at Daytona in 2005. Credit: Autostock

Banking on SunTrust's racing commitment

SunTrust Bank does things a little differently than some of the other financial institutions which use NASCAR racing as a vehicle to promote their services.

In 2004, when SunTrust announced it had entered into a partnership with NASCAR to become its official bank, it was the latest chapter in a long history with the sanctioning body.

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"SunTrust has been instrumental in the growth of our sport from Day 1 when they helped my grandfather, Bill France Sr., secure the funds to build Daytona International Speedway," NASCAR Chairman and CEO Brian France said. "Like NASCAR, SunTrust understands the path to customer loyalty is providing the right products with exceptional service. The company's commitment to our sport is far reaching and helps support our teams, drivers, tracks and community organizations in very meaningful ways."

SunTrust pioneered relationship banking in the world of sports and entertainment, beginning with the country music industry and branching into professional sports with an emphasis on motorsports.

One of its divisions, SunTrust Motorsports Banking, is centered on the motorsports lifestyle with offices in both Daytona Beach and Charlotte, and a mobile banking center which travels the circuit with the teams and drivers who use their services.

The idea, first employed by Brian Williams in Nashville, was to study the lifestyle of the sport or entertainment industry and tailor programs designed to fit that lifestyle.

In the case of motorsports, a whole team of bankers, led by David Pijot and John Hondros, is just a few steps away from its clients in the driver motorhome lot, ready to assist with financial advice and a variety of programs.

Pijot and others from the SunTrust team recently rode with Kyle Petty and hundreds of others in Petty's charity ride.

"This effort, among many, is an embodiment of SunTrust's commitment to 'seeing beyond money' and making a meaningful impact in the communities in which we serve," said Krista Massey, Director of Sponsorships and Event Marketing.

"SunTrust has seen first-hand the power of support from loyal NASCAR fans and how that loyalty translates into support for charitable efforts such as NASCAR Day and the inaugural Sprint Sound & Speed presented by SunTrust, both of which served to raise much-needed funding for Victory Junction Gang Camp."

Stars from both NASCAR and country music, two of the primary areas of interest in SunTrust's program, got together in Nashville for a celebration that included NASCAR show cars, Q&A sessions with artists and drivers, a benefit concert and autograph sessions that packed the Gaylord Entertainment Center.

Sound & Speed was the brainchild of Williams, who spearheaded the Sports and Entertainment Banking Group. Tragically, Williams died earlier this summer in a boating accident on a local lake.

In addition to the charitable side of the business, SunTrust supports NASCAR's diversity initiatives, including sponsorship of African-American driver Bill Lester. SunTrust is also an associate sponsor for Bill Davis Racing and provides contingency awards for the Dodge Weekly Racing Series.

Of course, there is a business aspect of the bank's involvement in NASCAR and other forms of motorsports.

"We now have the unique opportunity to offer our products and services directly to the most loyal fans in all of sports," said Craig Kelly, Executive Vice President and Chief Marketing Officer for SunTrust Banks. "We understand that NASCAR is a lifestyle for its fans, and we want to be a small but important part of the everyday lives of these great fans."