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Features & Account Opening

Members of Parama Credit Union are owners. As an owner, you can enjoy full access to all of Parama’s very competitive products and services with minimal or no service charges. Why do your banking anywhere else?

How To Join

Parama welcomes you in-branch to open an account! Please bring two (2) valid pieces of government issued ID, and your SIN. A $40 share is purchased upon opening an account at Parama. As an owner, you can participate in Parama's Annual General Meetings and cast your vote for Parama's Board of Directors.

If you are opening a business account, please provide the documents listed above in addition to: Articles of incorporation/association, trade name registration (if applicable), and name/address/occupation of all individuals with 25% or more of interest in your business. If the organization solicits donations from the public, please provide the CRA number. If you have been in business for longer than 12 months, please provide (1) Certificate of Incorporation, Compliance, Continuation, OR Letters Patent.

Please make sure to set up an appointment at a Parama branch and that the business owner and signing authorities are all present.


  • Pay no account or regular transaction fees on chequing and multiple-currency savings accounts. No charge for Interac E-Transfers per month and free cheques! There are some services that attract minimal fees.
  • Digital banking services, including account alerts, notifications and smart phone cheque deposits ... and coast-to-coast surcharge-free ATMs on the Exchange® Network.
  • Registered deposits (such as your TFSA, RSP, RESP) are insured for an unlimited amount, unregistered deposits up to $250,000. Learn more about Deposit Insurance.
  • You will enjoy personalized and caring service from all of our professional Member Service Representatives. At Parama you are known by your name, not by a number.
  • Members have a voice, can vote at the AGM and influence how Parama Credit Union is managed.