Oregon Credit Union Offers Banking for Cannabis

By Keith Mansur

For marijuana businesses looking for a bank that won’t shut their account down, look no further. One small credit union in Oregon is offering bank accounts to businesses that deal in cannabis, but they try not to make it publicly known.

The Statesman Journal reported in December that Maps Credit Union offers banking services to cannabis businesses:

The accounts Maps offers to marijuana businesses are one of the best-kept secrets in the industry.

The credit union doesn’t advertise the accounts. Businesses that have an account can’t talk about it — Maps has them sign a non-disclosure agreement when the account is opened, Saunders said.

For Oregon’s cannabis business owners unaware of Maps’ unique service, securing something as simple as a checking account can be nearly impossible.

Cannabis businesses across Oregon are constantly opening new accounts or simply operating in cash for fear of their account being abruptly closed. Having an Oregon bank that will provide the services needed is courageous, with the threat of the federal government looming.

You can reach out to Shane Saunders, vice president of operations at Maps CU. You can find teir contact information at their website, www.mapscu.com/. Their branches are in or around Salem.

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