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About Us

Parama History

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. PARAMA has  now grown to be the largest Lithuanian Credit Union in the world with assets of $418 million and over 6,000 members of both  Lithuanian and non-Lithuanian heritage.

Canada has 231 Credit Unions with combined assets of $277 billion. Of these, Parama is the 85th largest and the 24th largest in Ontario, by asset size. (Statistics as of December 31, 2020, not including Quebec)

PARAMA is a modern, full-service financial  institution. We pride ourselves on friendly, personal service and competitive loan and deposit rates. PARAMA is regulated by, and deposits are protected under, the authority of the Financial Services Commission of Ontario.


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