The $369 million Salal Credit Union in Seattle and the $1.3 billion Numerica Credit Union in Spokane, Wash., said they plan to work with the legalized marijuana business in their state.
The restrictions will be numerous, including working only with growers, processors and producers of cannabis-infused products – and not dispensaries – and all deposits made via armored car during regular business hours.
"We believe providing banking services to Washington state-licensed cannabis businesses will advance the research of the proven and potential health benefits to patients suffering from chronic health issues, improve public safety and assist these state-regulated small businesses to become established, and provide jobs and tax revenue," said Salal President/CEO Russ Rosendal.
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