Patchwork of pot laws compounds credit union headaches

Credit unions are poised to go green in 2019 – and they don’t mean championing the environment.

Marijuana will be legal in more than half of the states next year. In some states the drug will only be available for medicinal use while voters in other places have approved laws decriminalizing the drug for recreational use as well.

Even though there is a growing number of credit unions willing to bank marijuana companies, the drug remains illegal at the federal level. That means any financial institution attempting to serve legal pot businesses does so with the uncertainty of how the Department of Justice may choose to enforce current law.


continue reading »