CA Cannabis Industry Association Partners With North Bay Credit Union for Exclusive Banking Access
The California Cannabis Industry Association (CCIA) announced a new partnership with California’s North Bay Credit Union last week that will allow its members exclusive access to banking services like checking, online bill pay, and wire transfers.
Many banking institutions still refuse to do business with legal cannabis companies due to the substance's federal status. The number of banks willing to offer services to the cannabis sector is growing, however, thanks to legislative efforts and agreements like the one struck by the CCIA.
The new partnership will help “alleviate the banking obstacles that cannabis operators face, so they can focus on their core business,” the CCIA said in a statement.
Read more about the agreement here.