Source: Shutterstock.
A California credit union, a fintech and a trust bank are launching a new CUSO that will enable credit unions and community banks to offer banking services to cannabis companies without making the personnel and technology investments needed to meet stringent state and federal compliance requirements.
The CUSO, HigherGrowth LLC has been in development over the last two years by the $97.4 million North Bay Credit Union in Santa Rosa, Calif., which has been serving California cannabis companies since 2017, and its partners Austin Capital Trust Company in Henderson, Nev., and MRBD, a Silicon Valley fintech.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
