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Parama History

PARAMA Credit Union was established in 1952 by Lithuanians who immigrated to Canada after the Second World War. It opened its doors in the basement of a local community hall after many community members were turned down by the big banks when they needed help to buy homes, set up businesses and start their new lives in Canada. Many of those original families continue to do their banking at PARAMA.

With assets approaching $500 million (Dec. 2021) and over 6,000 members, we’ve expanded to serve members of the Bloor St. West community and throughout Ontario.

 

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PARAMA 1952 to 2022

A look back over our history

Testimonials

“Our family has been fortunate to be members of PARAMA Credit Union for over 40 years. PARAMA has provided us with excellent customer service and is a most trusted partner in our family’s financial planning. 5 stars.”
E. Prokop, Member
“Congratulations PARAMA on your 70th anniversary! Our family has enjoyed banking with you for many years. We thank you for the outstanding customer service and wish a bright and successful future for PARAMA. ”
Rita Slapsys, Member
“This is to thank you and commend your employee Ina for her professionalism. Although our interactions were brief, it is obvious that along with having pride in what she does, she also cares about her client's comprehension and understanding as demonstrated by her attention to detail, thoroughness, and swift action and response. Parama is "lucky" to have Ina on their team. It has been a pleasure dealing with her. ”
Joe Kanapka, Member