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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 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 $397.8 million and over 6,000 members of both Lithuanian and non-Lithuanian heritage. We are one of 236 Canadian Credit Unions (outside of Quebec) – a system with combined assets of $270.2 billion (CCUA National Sector Report - September 2020)

PARAMA is a modern, full-service financial institution. We pride ourselves on friendly personal service and competitive loan and deposit rates. PARAMA is regulated by the Financial Services Regulatory Authority (FSRA) of Ontario and eligible deposits are insured under FSRA's Deposit Insurance program.

 

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