THUNDER BAY – HEALTH – After years of building its endowment fund, Thunder Bay’s credit unions are starting to see their investment at work for the most precious patients at Thunder Bay Regional Health Sciences Centre (TBRHSC).
The credit unions contributed a portion of the revenue from their customers’ iCare CUETS MASTERCARD® purchases to an endowment fund annually from 2002 to 2007, to a total of $25,000. Since then, the local Provincial Alliance and Northern Lights credit unions have continued to contribute and grow the fund which was set up to support the Maternal/Child area at TBRHSC.
This year, for the first time, income from the Thunder Bay Credit Union Endowment Fund was used to purchase a piece of much-needed equipment for the Paediatric Outpatient Department – a Vital Signs Monitor.
Monitoring of a patient’s vital signs is important to assess changes in patient’s condition before and after a procedure or surgery. According to Christina Purdon, Manager of Paediatrics and Neonatal Intensive Care, patients ranging in age from infancy to teens/youth will benefit from this new monitor. “This equipment will allow the staff to measure temperature using a forehead scanner which will be less intrusive for an infant or paediatric patient, as well as measuring blood pressure and pulse rate.”
An endowment is a long-term gift to a charity. The principal is protected and only the income from the interest is spent. Donations to establish an endowment can be made from an outright gift of cash or securities, or as a planned gift in your Will or a gift of life insurance.
“In terms of giving back to the community, I can’t think of a better way than through an endowment fund,” says Heidi Liimatainen, Manager of Wealth Management and Business Development with the Provincial Alliance Credit Union. “It’s a gift that keeps giving and can be counted on for a long time to come.”
There are currently seven endowment funds with the Health Sciences Foundation, supporting cardiology, paediatrics, ophthalmology, lung cancer research and the education of laboratory staff at TBHRSC.For more information about supporting world-class healthcare here at home through an endowment fund, please contact Terri Hrkac at (807) 684-7109.