C.A.R. PARINGUL is a non-banking financial institution that appeared at January 1-st, 2006 as a merger of three credit unions with a mining background: CAR Preparatorul Petrosani, CAR Livezeni and CAR E.M. Aninoasa, institutions with a long and fruitful experience, but all of them on a downward trend because of the decline of the mining industry in Jiul Valley. To avoid the decline of members and activity, these decided to merge and externalize in order to progress and regain efficiency .

The merger allowed the three entities to join their resources into one stong financial institution, able to join the top performant credit unions in the area. The new, coordinated and efficient management met in short time the expectations members had when they decided to unite efforts.

The main office of CAR Paringul is in Petrosani, Str. 1 Decembrie 1918, nr.97, but there're also an agencies in Petroșani, Petrila, Vulcan, Timișoara and Petrești-Sebeș. In the year 2010 another small credit union merged with CAR Paringul, that operates now as the Paroseni agency, in one of the buildings of the Paroseni Power Plant. A new and modern agency was opened in 2012 in downtown Petrosani, right beside the I.D. Sarbu Theatre. That was followed by the new, modern head-office opened in 2014, The Petrila, Timișoara and Petrești Sebeș agencies are the result of the territorial expansion policy of the last couple of years, as policy that already brought significant increase in our activity.

The members of CAR Paringul Petrosani IFN originated originally from all over the Jiu Valley, from Petrila to Uricani, covering the entire social-professional spectrum of the population. Now, the numbers increased significantly,passing 4000 members in 2015 compared to the original 990 in 2006., as a proof that the results in all these years were satisfying. The volume of granted loans increased also significantly, compared to 2006 when the merger created this institution.

We must emphasize that, even with low interest rates for the loans, the careful monitoring and optimizing of the expenditures allows us to to award attractive rates for the members savings (members shares), this way we can fulfill one of the very important goals: protecting the savings from inflation and offer a real gain. The incomes allowed us to reward each years the member shares with a higher interest than any bank offers, even if we continuously lowered the interest rates, invested in new agencies and kept up to date the IT equipments of the credit union.

All these results propell CAR Paringul as one of the top credit unions affiliated to UTCAR Hunedoara. Considering the UTCAR Hunedoara is by far the most powerful regional association, this allows us to look confidently ahead.