Skip to content
Cannabis-friendly banks face pressure to differentiate » SEPTEMBER 2023
North Bay Credit Union, an early entrant into the cannabis banking space, has been offering accounts for marijuana-related firms since 2017, shortly after the recreational use of the drug was legalized in the state in 2016.
“Our philosophy has always been to treat our [marijuana-related business] accounts as much like any other business account as possible,” he said. “Greenbax Marketplace is our cannabis banking subsidiary and I think our range of services and the level of customer support we provide are also significant factors in our growth.”
CALIFORNIA CANNABIS OPERATORS AGAIN AWAIT OUTCOME OF SAFE BANKING ACT » MAY 2023
Cannabis company operators hope federal legislation will finally allow them to do business with banks — and stem a counterculture label the $50 billion legal industry finds hard to shake. The Secure and Fair Enforcement Banking Act making its way through Congress is intended to allow cannabis businesses to open bank accounts even though their product, while legal in California, is outlawed by the federal government. The dilemma has posed both safety and tax issues, which are seen by a collective of bipartisan lawmakers as unfair and unwarranted.
GREENBAX MARKETPLACE EXPANDS BANKING SERVICES FOR CANNABIS INDUSTRY » OCT 2022
CANNABIS OPERATORS and financial institutions have access to a full suite of compliant banking services on a safe & compliant fintech solution
SANTA ROSA, CA /October 1, 2022/— North Bay Credit Union is excited to announce Greenbax Marketplace Inc., as its official cannabis banking partner. Greenbax offers financial products never before available to those in the cannabis industry, including a fully functional cutting- edge platform built specifically for the cannabis sector.
CUSO TAKES CANNABIS BANKING HIGHER » MAY 2022
AT A TIME when cannabis banking legislation hangs in limbo and the substance itself remains federally illegal, some credit unions have carved their niche in providing financial services to cannabis businesses while others are still hesitating to enter the market or have written it off altogether. But one CUSO is betting on credit unions becoming more deeply entrenched in the world of cannabis cultivators, dispensaries and related businesses, and has carved a niche of its own offloading two of the biggest pain points for credit unions in the space – compliance and technology.
HIGHERGROWTH LAUNCHES COMPLIANCE AND FINTECH PLATFORM FOR CANNABIS INDUSTRY » OCT 2021
HIGHERGROWTH WILL SERVE credit unions and banks (“FIs”) by providing turn-key compliance, digital payments, and banking services platform to enable FIs to enter or expand into cannabis banking. In addition, HigherGrowth will work directly with MRBs throughout the nation to secure banking and lending access with its HigherGrowth marketplace.