Marijuana-Related Businesses

There is a growing demand locally for providing financial services to marijuana-related businesses (MRBs) and it is our desire to support our members, and their businesses, in this highly regulated industry. In order to do so, we must employ stringent controls and allocate additional resources commensurate with the various requirements imposed by state and federal regulations. By providing services to MRBs, NEFCU is required to implement and maintain a varying degree of new processes including, but not limited to, specialized cash handling procedures, business site visits, and a dedicated team of employees whose sole responsibility will be to ensure MRB compliance with regulatory requirements. NEFCU has created an initial fee schedule that allows us to address current requests while accounting for the fluctuating regulatory requirements and costs associated with servicing these businesses. Our objective is to continue supporting our members financial needs in this industry. We plan to adjust our fee schedule and service structure as regulatory requirements are further defined.

Please refer any questions to our Contact Center: 802.879.8790 or 800.400.8790

MRB / CRB / Cannabis