Parama Credit Union Limited
This Page's Content Was Last Updated: July 21, 2026
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
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% 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.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Credit Union Overview
| 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% |
| Mortgages + HELOCs | N/A | N/A | N/A |
| Revenue | $15M | 0.0% | +36.4% |
| Efficiency Ratio | 47.6% | — | — |
| Members | ~6,000 | — | — |
| Branches | 2 | — | — |
| Target Members / Region | Toronto Lithuanian immigrants | — | — |
Parama Credit Union Limited Deposits, Loans and Revenue in the Past 5 Years
For deeper insights into all Canadian lenders, subscribe to our comprehensive Lenders Report, with plans starting at just $100 per month.
Contact
If you're from Parama Credit Union Limited and would like to add or update information on this page, please fill out the form.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.