Seattle Credit Union Moves Toward Serving Marijuana Growers

Salal says openly that it expects to provide bank accounts for some state-licensed marijuana growers and processors.

WASHINGTON: The Seattle-based nonprofit once known as Group Health Credit Union changed its name in 2010 to evoke a green, leafy, hardy plant seen as having medicinal properties. No, not that one. But four years later, what is now Salal Credit Union is gingerly stepping into a different field of green by doing business with Read the full article…

Marijuana Banking: Secretive But Poised To Grow

http://mjnewsnetwork.com/legal/wa-gov-inslee-to-sign-bill-changing-medical-marijuana-rules/

WASHINGTON: Many marijuana business owners say they have bank accounts, but aren’t completely forthright with their bankers about the nature of their businesses. They claim to be in “consulting” or “medical research.”  And they know they could lose those bank accounts suddenly, at any time, since federal law prohibits banks from holding any funds associated with Read the full article…

Spokane Washington Pot Businesses Could Bank On Credit Union

Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday.

WASHINGTON: Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday. But only for Spokane area businesses, Becky Smith, the board’s marijuana licensing manager, said: “They want to keep it local.” That could give Spokane marijuana growers, processors and retailers a leg up Read the full article…