(Image Credit: Red Deer Polytechnic/Supplied)

By rdnewsNOW staff

Anaonymous gift

RDP receives $10 million donation to form Institute for Financial Literacy

Mar 30, 2026 | 4:41 PM

Red Deer Polytechnic has received a $10 million anonymous donation to form the Institute for Financial Literacy.

The donation, which is the second largest in RDP’s history, will create a dedicated institute that will give students the skills to make smart final decisions in their lives.

A portion of the donation will also support a new student access bursary, helping those with financial barriers pursue their education. Capital funding will also be put 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,” said Stuart Cullum, President, Red Deer Polytechnic, in a media release. “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.”

Some of the focus points will be on hands‑on financial education, including personal finance, budgeting, debt management, investing, and long‑term financial planning.

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It will be designed to build confidence, 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,” said 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.”

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.