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Scholarship Program

Parama Credit Union’s Scholarship Program may distribute up to $10,000 annually to deserving individuals.  There will be a minimum of two (2) education awards annually: One scholarship in the amount of $2,500 and at least one scholarship in the amount of $1,000.  The total number of awards and dollar level of awards will be determined annually by Parama’s Scholarship Committee as based upon the number and quality of applicants.  These awards are available to students who are members of Parama Credit Union.  To qualify a student must be attending an accredited post-secondary institution (undergraduate or graduate program).  The application process will open on October 1, 2017.  The deadline for completed applications (including acceptance letters and transcripts) to be received by Parama Credit Union is February 8, 2018.  Applications and supporting documents received after this date will not be considered, without extenuating circumstances.

Scholarship winners will be advised that they have been awarded a scholarship in early March and the awards will be handed out at the Annual General Meeting on March 6, 2018.  All recipients must attend the Annual General Meeting or designate a representative to receive the award.



1. Applicant must be a member of Parama Credit Union for at least one year prior to applying.

2. Applicant must be attending a University/College prior to applying.

3. Applicant must be under 25 years of age.

​4. All applications must be completed by the applicant.

​5. Applicants cannot apply more than twice.

6. All fully completed scholarship applications in designated form must be accompanied by the following:

  • An official signed transcript from University, or College.
  • 2 signed letters of reference (professional and/or personal); you may not include family members.
  • A “head and shoulders” photograph must be included.



The criteria for the awards are listed below:

(a) Academic achievement

(b) Volunteer Work/Leadership Experience

(c) Community involvement



Mail to:

Parama Credit Union

Attn: Scholarship Committee

2975 Bloor Street West Toronto, ON M8X 1C1

Email: scholarship@parama.ca