Parama Credit Union partners with Lodestar Technologies to initiate data transformation

VANCOUVER, CANADA (July 28, 2020)Lodestar Technologies Inc., a data and technology services leader, announced today that Parama Credit Union, based in Toronto, Ontario, have partnered to transform the credit union’s data strategy. Parama Credit Union chose the Lodestar Enterprise Data Store (LDS) to provide a single, fully integrated and accurate source of truth for all data, as well as intelligence and analytical capabilities to support the overall digital transformation and member experience.

As consumer engagement in financial services rapidly changes, Parama Credit Union is positioning itself to create an even more exceptional experience for its membership.  As the regulatory climate is changing and the competition in the financial services sector is ever-increasing, easy access to data sources is critical – both strategic and tactical decisions must be driven by data.

“Rapid growth in a fast-evolving environment is creating fresh opportunity, which we believe Lodestar is extremely well-positioned to address,” says Tarmo Lõbu, Chief Executive Officer at Parama Credit Union. “We are very excited about moving to Lodestar’s data structure and analytical capabilities as we continue to deliver innovative solutions to further enhance our member experience.”

“We are proud to say our clients have been able to navigate significant change over the past few months leveraging our solutions,” says Steve Mott, VP Sales at Lodestar. “We are excited to have Parama Credit Union join our growing list of clients.”

About Lodestar Technologies

Founded in 2008, Lodestar provides data warehousing, business intelligence analytics and professional services solutions to financial institutions. From best-in-class technology to decades of industry experience, we support our clients no matter where they are – and where they want to go – on their analytics journey. For more information, visit

About Parama Credit Union

Parama Credit Union was established in 1952 by Lithuanians who immigrated to Canada after the Second World War.  With assets of over $400 million and an increasingly diverse membership base, Parama is now one of the fastest-growing credit unions in Ontario as more and more people gravitate to great value and exceptional service in banking.  As a modern, full-service financial institution, Parama prides itself on highly personalized service, no fee everyday banking and highly competitive loan and deposit rates – all available in a friendly, co-operative setting.


Merideth Miller, M2 The Agency

More News