Axel Merckx Events announced Tuesday that Okanagan-based Granfondo Axel Merckx has a new title sponsor.

Prospera Credit Union replaces Valley First Credit Union as it has committed to a three-year agreement for what is considered one of the largest and fastest growing participation cycling events in North America.

Event director Jeff Plant is excited by the news and explained why this is a good partnership.

“It shows a strong commitment from Prospera Credit Union believing in cycling,” said Plant. “They appreciate events that bring communities together.”

Plant said they have a great relationship with Prospera Credit Union staff of being engaged in the community.

In a statement, event founder Axel Merckx said Prospera has a strong history of supporting community-based organizations and events and he’s excited and thankful for their support.

“Their three-year commitment not only signals the strength of our Granfondo in B.C., but also shows their great faith and passion for events that bring people together,” he said.

The Prospera Granfondo Axel Merckx Okanagan will be held on Sunday, July 13th, 2014 in Penticton, B.C. Registration is still open in the Cortofondo (55 km), Mediofondo (92 km) and Granfondo (160 km) categories.