Students from Surrey who attend Kwantlen Polytechnic University (KPU) will get a financial boost thanks to a $500,000 donation from Coast Capital Savings.
The Coast Capital Savings/PCI Development Endowment will generate $25,000 annually to provide five $5,000 bursaries each year to support residents from Newton, Whalley, Surrey Central or Guildford who are enrolled at KPU.
“Coast Capital Savings has a rich history as a corporate citizen here in Surrey. With our new building, we have made the conscious decision to put down even deeper roots in the city,” explains Tracey Arnish, chief member experience officer at Coast Capital Savings.
“Working with PCI, we have a gorgeous new headquarter location in one of Surrey’s fastest growing neighbourhoods. It was important to us that we do something tangible to celebrate our new home, our community and the youth who live and go to school here. This endowment signifies our commitment to building strong, educated and thriving communities for our young people. We are excited to see the great things that this investment will continue to do for the students who receive these bursaries.”
This is the second time Coast Capital Savings has donated a major gift to support students at KPU. In 2009, a $1 million gift marked a milestone for both organizations – at the time it was the largest single donation received by KPU and the biggest single community investment for Coast Capital.
“Coast Capital Savings was among the first truly transformational donors to the university in its early years,” says Steve Lewarne, executive director of advancement and CEO of the KPU Foundation. “With more than $1.7 million gifted to KPU over the years, Coast Capital Savings has almost $1.3 million in endowed funds with the KPU Foundation.”
“These endowments will continue to support KPU students in perpetuity.”
The new donation arose from negotiations between Coast Capital Savings and developer PCI when planning the credit union’s new King George Boulevard headquarters. The bursary eligibility criteria reflect the donor’s wish to help students from neighbouring communities.