Bob Schweigert, a representative of Salal Credit Union announced that they will do business with stores selling recreational cannabis in Washington State.The announcement took place at the Marijuana Business Association’s Canna Business & The Law seminar in Seattle. The big announcement came during a Managing Your Marijuana Business Money panel.
The credit union is willing to work with business’s that cultivate, process and/or distribute cannabis for recreational purposes.
Back in February the Obama administration gave banks the go ahead to conduct business with legal marijuana sellers. Without the approval, most likely no banks would risk conducting business with any store selling recreational cannabis.
As long as the business’s follow all guidelines given, the government says they will not prosecute any banks working with legal marijuana shops.
Salas Credit Union is the second credit union willing to work with marijuana stores, following Numerica Credit Union.
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