Benefits

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Discover What Sets Parama Apart

No Fees - many of our everyday banking services are completely free of service charges.
Full-Service Banking - we offer modern and convenient products and services including digital banking, debit and credit cards, Interact® e-Transfers, and more.
Deposit Protection - up to $250,000 coverage for eligible non-registered deposits and unlimited coverage for registered deposits (e.g., RRSPs, TFSAs). All backed by the Financial Services Regulatory Authority of Ontario (FSRA).

CREDIT UNIONS
Full range of financial products and services
Services Accessible via Branches, Online, ATMs, and Mobile Devices
Not-for-profit cooperative made up of member-owners
Profits shared with members through interest rebates on loans and bonus interest on deposits
Volunteer Board of Directors who are members elected by members

Banks
Full range of financial products and services
Services Accessible via Branches, Online, ATMs, and Mobile Devices
For-profit corporations owned by stock holders
Profits paid to shareholders as dividends
Paid Board of Directors voted by stockholders who may not be customers