ORONO — University of Maine Fogler Library has received an $800,000 gift from the estate of Lee Gagnon, a Waterville native and a member of the class of 1959, to support an endowed memorial fund in honor of his parents, according to University of Maine Foundation President/CEO Jeffery Mills.

The Lionel J. Gagnon and Germaine Fortin Gagnon Memorial Fund will provide resources for the library’s procurement of resources, including books, videos, tapes, computer equipment, software and supplies, speakers, programs and materials in perpetuity. The balance of the fund, established in 2000, now exceeds $1 million, according to a news release from the university.

Gagnon, who was living in Charleson, Rhode Island, died last August at the age of 83.

“This gift will advance the ability of the state’s largest research library to provide excellent resources to our university community, across the University of Maine System and the state,” said UMaine President Joan Ferrini-Mundy. “As part of our Carnegie R1 top-tier research institution, Fogler has a critical role in supporting students, faculty, staff and Maine residents.”

Gagnon, who graduated from UMaine with a degree in economics, had a long and successful career in insurance and banking in Connecticut, where he raised his family. He retired from Webster Financial Corp. as executive vice president, chief operating officer and secretary. Gagnon served in the military, both in active and reserve duty.

According to Gagnon’s daughter, Terri Driscoll, he was grateful for the opportunities he had in his life and credited UMaine with providing him with the foundation for his future success. He was an avid reader and always maintained a large library of his own.