Parama Credit Union donates $100,000 to sustain community organizations | PARAMA

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Parama Credit Union donates $100,000 to sustain community organizations

Parama Credit Union donates $100,000 to sustain community organizations

Organizations face headwinds due to drop off in membership numbers and costs related to COVID 

Toronto, Ontario, December 23, 2020 –

Parama Credit Union has donated $100,000 to sustain organizations in the community it serves. The COVID pandemic has challenged organizations that rely on participation and membership fees and organizations that have had to implement additional operational protocols to safeguard the health of elderly residents.

“It is important that we ensure the survival of organizations that are the social glue of the community we serve” said Rita Urbonavicius, Parama’s Board Chair. “We don’t know what the future holds, but a future without these organizations will be a great loss to our Community.”

Organizations to receive donations were selected because they serve the most vulnerable of our community including children, youth and the elderly – and the donation would make a meaningful impact. They include: Labdara Nursing Home (Toronto), Romuva Scouts (Huntsville), Kretinga Youth Camp (Wasaga Beach), Church of The Resurrection (Toronto), Maironio School (Toronto), Rumbonys Children’s Home (Lithuania) and Lithuanian Martyrs' Catholic Church (Mississauga).

About Parama Credit Union

PARAMA Credit Union was established in 1952 by Lithuanians who immigrated to Canada after the Second World War. It started in the basement of the cultural community hall with the goal of helping community members buy homes and establish new lives in Canada. Today, PARAMA is a full-service financial institution with over 6,000 members and $420 million in assets. We welcome Ontarians of all ethnic heritages to be Members and pride ourselves on friendly, personal service and competitive rates on loans and deposits. PARAMA is regulated by the Financial Services Regulatory Authority of Ontario (FSRA) and eligible deposits are insured under FSRA's Deposit Insurance program. Learn more at parama.ca.

Media contact:
Linda Wild / Chief Marketing Officer

416.207.9239
lindaw@parama.ca