Red Deer Polytechnic (RDP) has received a transformative $10 million anonymous donation - the second largest gift in the institution's history - to establish the Institute for Financial Literacy, advancing learner success and long-term economic wellbeing.
Photo credit : Red Deer Polytechnic
The landmark gift will create a dedicated institute focused on equipping learners with the essential financial skills, confidence, and understanding needed to make informed decisions throughout their lives. In addition, a portion of the donation will also support a new student access bursary, helping learners who face financial barriers to pursue and complete their education, along with capital funding towards the Centre for Innovation in Manufacturing expansion and the new Healthtech Centre for Applied Learning and Innovation project.
"We are extremely grateful for this extraordinary gift that will have a lasting impact on our learners and community," says Stuart Cullum, President, Red Deer Polytechnic. "Financial literacy is foundational to individual success and economic resilience. The Institute for Financial Literacy will empower learners with practical, real-world skills while helping remove financial barriers to post-secondary education. The funding toward our CIM-TAC and new Health Centre will enable RDP to enhance its training and applied research capacity in areas critical to Alberta's productivity."
The Institute for Financial Literacy will serve learners across disciplines, integrating applied, hands-on financial education that supports personal finance, budgeting, debt management, investing, and long-term financial planning. Programming will be designed to build confidence and capability, supporting students at every stage of their academic and professional journeys.
"This gift reflects the donor's belief that financial literacy is a critical life skill," comments Patrick Machacek, Vice President, Development and Partnerships, Red Deer Polytechnic. "A skill that strengthens individual wellbeing and builds stronger families, workplaces, and communities, while reinforcing RDP's leadership in applied, real-world learning that supports Alberta's prosperity."
The accompanying student access bursary reflects the donor's commitment to equity and access, ensuring that financial challenges do not prevent capable learners from accessing post-secondary education. The bursary will prioritize support for students facing demonstrated financial need, helping to reduce stress and improve persistence and completion. Students beginning or continuing their studies at Red Deer Polytechnic for the 2026-27 academic year can apply for the Student Access Bursary starting on May 7, 2026.
The donation also funds a $100,000 expansion of RDP's CIM-TAC -- boosting advanced manufacturing capacity and hands-on learning for 450 students annually -- while also committing $1 million to support the proposed Healthtech Centre for Applied Learning and Innovation, which will more than double RDP's enrollment in health programming, contributing to a critical workforce need within central Alberta's health sector.
