Parama Credit Union Limited
This Page's Content Was Last Updated: July 21, 2026
Important Information
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Read our independent Parama Credit Union Limited review to compare financial metrics, chequing fees, and branch locations across Ontario. As of 2026, Parama Credit Union Limited ranks #62 among Canadian credit unions with $596 million in total assets.
Quick Jump: Chequing & Savings Accounts|Financial Metrics
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
Parama Credit Union Limited Ranking Among Credit Unions Monitored by WOWA
62nd
by Assets
of 134 credit unions
56th
by Loans
of 133 credit unions
64th
by Deposits
of 133 credit unions
Parama Credit Union Limited ranks 62nd among Canadian credit unions by assets monitored by WOWA, 56th by loans, and 64th by deposits, as of December 31, 2025. You can view the complete list of Canadian credit unions here.
Parama Credit Union Limited Branch Locations
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% - Parama Credit Union Limited Everyday Chequing Account is a no-monthly-fee chequing account with tiered interest calculated daily and paid monthly. Deposits, withdrawals, cheque transactions, Interac e-Transfers, and debit card purchases are free and unlimited. It also includes 100 free pre-printed personal cheques, Deposit Anywhere, and free Exchange Network ATM transactions.
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.
- Parama Credit Union Limited Daily Interest Premium Savings Account is a savings account with no minimum balance requirement. Interest is calculated on the minimum daily balance and paid monthly. Funds can be deposited and withdrawn as needed, and Parama states that the account does not use temporary teaser rates for its interest rate.
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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Contact
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