Finning Canada will be investing over $100,000 for students at Keyano College through different awards.
The Caterpillar Manufacturing Company is creating the Finning Canada Endowment Fund in hopes that they can help students reach their goals.
“The idea is to help students,” said Brent Davis, Vice President of Oil Sands and Mining Solutions. “We’ve had many of our employees helped by it (Keyano) and a lot of people are helped out by Keyano College.”
Davis notes Finning Canada has made previous donations to the college through different athletic programs and sponsorships.
Eligibility for these funds will be based on financial need, academic achievement and area of study.
Meanwhile, Vice President of External Relations and Advancement at Keyano Jason Demers tells Mix News this donation is unique in the way money is being sent to the college.
“Typically, what donors do is fund the endowment and it takes years for that interest to accumulate and build up to the $100,000 and the thing Finning is doing is contributing $8,000 per year that will immediately benefit the students until the endowment gets to the point where the full value of their gift is realized.”
For the next four years, the fund will provide students, who are eligible, with four interim annual awards of $2,000. After that, four endowed awards will be provided to students annually – with a grand total of $1,250.
This will bring the total to $132,000.