LOCKPORT - Cornerstone Community Federal Credit Union of Lockport has purchased naming rights for the city’s new $13 million twin-rink ice arena, scheduled to open in September.

The credit union has called a news conference for 10 a.m. Wednesday in front of the arena at Chestnut and Market streets to announce details of its 12-year agreement with Lockport Ice Arena and Sports Center, the private, not-for-profit owners of the complex, which is being built on the site of a former supermarket.

The arena is expected to serve as home ice for a junior hockey team and for several high school teams and youth hockey associations.

City officials hope the regular influx of young players and hockey parents will prove to be an economic boost for downtown Lockport.