Our History | PARAMA

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Our History

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 in excess of $335 million and over 6,000 members of both Lithuanian and non-Lithuanian heritage. We are one of 248 Credit Unions in Canada – a system with combined assets of $232 billion and 5.8 million members (As of December 31, 2018)1

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


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