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).
Why People are Making the Switch
| CREDIT UNIONS |
|---|
| Full range of financial products and services |
| Services Accessible via: Branches, Online, ATMs, Mobile |
| 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 |
| Service-driven — we care about people |
| BANKS |
|---|
| Full range of financial products and services |
| Services Accessible via: Branches, Online, ATMs, Mobile |
| 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 |
| Profit-driven — motivated by profits |
For more information about Credit Unions please visit the Canadian Credit Union Associates website.
