Benefits
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Members of Parama Credit Union are owners. As an owner, you can enjoy full access to all of Parama’s very competitive products and services with minimal or no service charges. Why do your banking anywhere else?
Parama welcomes you in-branch to open an account! Please bring two (2) valid pieces of government issued ID (including 1 with a photo), proof of address, and your SIN. A $40 share is purchased upon opening an account at Parama. As an owner, you can participate in Parama’s Annual General Meetings and cast your vote for Parama’s Board of Directors.
If you are opening a business account, please provide the documents listed above in addition to: Articles of incorporation/association, trade name registration (if applicable), and name/address/occupation of all individuals with 25% or more of interest in your business. If the organization solicits donations from the public, please provide the CRA number. If you have been in business for longer than 12 months, please provide (1) Certificate of Incorporation, Compliance, Continuation, OR Letters Patent.
Please make sure to set up an appointment at a Parama branch and that the business owner and signing authorities are all present.
- Pay no account or transaction fees on chequing and multiple-currency savings accounts. No monthly charge for Interac e-Transfers. Some services may have minimal service charges.
- Digital banking services, including account alerts, notifications and smart phone cheque deposits and nation-wide surcharge-free ATMs.
- Registered deposits (such as your TFSA, RSP, RESP) are insured for an unlimited amount, unregistered deposits up to $250,000.
- At Parama, you're more than just a number. Our knowledgeable staff want to get to know you and offer personalized advice you can trust.
- Members are owners and have an opportunity to vote at the Annual General Meeting.
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