News University Federal Credit Union Donates $1.5 Million to Seton Medical Center at The University of Texas

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AUSTIN, Texas - (Aug. 21, 2014) - The Seton Fund has received a $1.5 million donation from Austin-based University Federal Credit Union to fund construction of the Seton Healthcare Family's new teaching hospital, Seton Medical Center at The University of Texas. The gift is in line with UFCU's ongoing commitment to supporting higher education.

"Seton Medical Center at UT," which will ceremoniously mark the start of construction on Aug. 26, will anchor a platform for academic medicine and research across Central Texas that includes Seton Medical Center Austin, Dell Children's Medical Center of Central Texas, Seton Shoal Creek Hospital and other facilities in the community.

It will be at the center of a new downtown medical district and serve as the primary training site for students at The University of Texas at Austin's Dell Medical School. The new hospital, in partnership with the medical school and Central Health, Travis County's health care district, will provide for more doctors and specialized care and transform health care delivery in Central Texas.

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Pictured (left to right): Pete Winstead, founder of Winstead PC, and chair, Seton's Future of Care Campaign; Tony Budet, president and CEO, UFCU; Yung Tran, executive vice president and CFO, UFCU; Christann Vasquez, president, Seton Medical Center at The University of Texas; and Bob Bonar, president and CEO, Seton Family of Hospitals.

"University Federal Credit Union is delighted to partner with The Seton Fund and The University of Texas in such a meaningful way," said Tony Budet, UFCU chief executive officer. "Our cooperative's vision is 'a higher education community made strong through shared values and high-impact relationships.' By aligning UFCU's human, financial and other resources with those of higher education in Austin, we become an active participant in a virtuous circle.

"Our university partners produce talent critical to continued growth, vitality and quality of life, which of course generates more long-term business opportunities for a not-for-profit cooperative such as ours," Budet said. "It's a beautiful thing and we're grateful to be a part of it."

The UFCU donation will be recognized at the education and training center within Seton Medical Center at UT. The space will be used by physicians, medical students, medical residents, nurses, hospital executives and community partners.

The Seton Fund, with help from community leader fundraising volunteers, is spearheading efforts to raise $50 million via philanthropy from the community - one of the largest goals for a single, nongovernmental building campaign in Austin's history. Seton will invest the remaining $245 million toward construction. More information is available online.

"UFCU has stepped forward in support of Seton's vision to bring greater innovation to medical education and delivery of care," said Bob Bonar, Seton Family of Hospitals president and chief executive officer. "This project and its capital campaign rely on community support, and we are grateful for UFCU's generous gift that will benefit all in Central Texas."

This gift follows other major donations by the Lola Wright Foundation, Shivers Cancer Foundation and the Luci Baines Johnson and Ian Turpin family.

Seton Medical Center at UT, scheduled to open in 2017, will be built across 15th Street from University Medical Center Brackenridge and will be flanked by Dell Medical School, new research facilities and medical office buildings.

About The Seton Fund

The Seton Fund of the Daughters of Charity of St. Vincent de Paul is a nonprofit foundation that raises funds for the Seton Healthcare Family. The Seton Fund supports Seton Medical Center at The University of Texas, Seton Medical Center Austin, University Medical Center Brackenridge, Seton Shoal Creek Hospital, the Seton Community Health Centers and a number of other Seton facilities and programs in Central Texas.

About University Federal Credit Union

Exceeding $1.6 billion in assets, UFCU serves over 172,000 members in the Austin and Galveston areas. UFCU provides a variety of products, services and education programs to meet your needs through all phases of your life. To learn more about UFCU, visit www.ufcu.org.

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