Parama Credit Union Limited
This Page's Content Was Last Updated: July 21, 2026
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Credit Union
Parama
Parama Credit Union Limited is a credit union located in Ontario. It was founded in 1952. It primarily serves Toronto Lithuanian immigrants.
Parama Credit Union was established in 1952 by Lithuanian immigrants who came to Canada following the Second World War. Its name means support in Lithuanian, reflecting its original purpose of helping community members access financial services for homes, businesses, and settlement in Canada.
The credit union received its Ontario charter in December 1952, and banking operations began in early 1953. Originally serving Toronto’s Lithuanian community, Parama expanded its membership province wide in 1996 and now welcomes residents across Ontario.
Today, Parama operates from Toronto’s west end and offers personal and business banking, mortgages, loans, investments, and related financial services. It remains connected to Lithuanian Canadian community life while operating as a member owned financial cooperative open to a broader Ontario membership.
Provinces served
Number of Members (as of 2025): ~6,000
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: EVERYDAY CHEQUING ACCOUNT
- Standard Fee
- Free
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows Unlimited free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $30,000
- This limit may vary depending on the client profile.
*Interest Rate Breakdown by Balance
Balance amount Interest rate $0 to $9,999.99 0.250% $10,000.00 or more 0.500% - A chequing account that covers everyday banking while still earning interest on your balance, with tiered rates calculated on the daily closing balance and paid monthly. Deposits, withdrawals, and cheque transactions are all free and unlimited, and it includes the first 100 pre-printed personal cheques free, free debit card use at point-of-sale terminals, free deposits and withdrawals across The Exchange Network, and remote cheque deposit through Deposit Anywhere on Parama's mobile app.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Accounts
Savings Account
Account: DAILY INTEREST PREMIUM SAVINGS ACCOUNT
- Interest Rate
- 2.50%
- Standard Fee
- Free
- Free Transactions
- 0
- Max e-Transfer / Day
- $10,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 0 free transactions.
- Maximum Interac e-Transfer per day: $10,000
- Maximum Interac e-Transfer per week: $30,000
- This limit may vary depending on the client profile.
- A high-interest savings account built around maximum flexibility, letting you deposit and withdraw whenever you need without a minimum balance requirement. Parama positions it explicitly against teaser-rate accounts, offering a reliably high rate rather than a promotional one that drops, with interest paid monthly on your minimum daily balance.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $596M | +0.7% | +24.4% |
| Loans | $538M | +0.7% | +23.7% |
| Deposits | $491M | +1.0% | +12.6% |
| Loan-to-Deposit Ratio | 109.6% | — | — |
| Mortgages + HELOCs | N/A | N/A | N/A |
| Securities | $31M | -11.4% | +19.2% |
| Revenue | $15M | 0.0% | +36.4% |
| Efficiency Ratio | 47.6% | — | — |
| Target Members / Region | Toronto Lithuanian immigrants | — | — |
Parama Credit Union Limited Deposits, Loans and Revenue in the Past 5 Years
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