Two credit unions develop legal marijuana business accounts, but with significant restrictions.
Credit union groups paranoid DOJ could change its mind and reverse guidance that allows accounts for state-legal marijuana businesses.
Despite guidance from FInCEN and the DOJ, legal hurdles remain for state-legal marijuana business accounts.
The 1,500-member, $2 million Stark Metropolitan Housing Agency Federal Credit Union in Canton, Ohio filed a lawsuit Aug. 27 against its legacy sponsor, accusing it of breach of contract according to documents file in Stark County Common Pleas Court in Canton, Ohio.
Stark Metropolitan Housing Authority FCU embroiled in dispute with agency over subsidies and HUD audit findings.
Nathan Schmidt, executive vice president marketing and business development at San Diego County Credit Union has always had a knack for not only seeing the big picture but taking others along to anchor and deliver on those ideas.
The $1.6 billion, 144,000-member Apple Federal Credit Union in Fairfax, Va., said it has been selected as the exclusive provider of banking services to George Mason University.
Fairfax, Va.-based GMU has more than 33,000 students at its four locations, nearly 3,000 academic staff and thousands more other employees and alumni.
The new contract includes banking services, a branch in the University Memorial Center and ATMs throughout the Boulder campus
At the behest of New York Gov. Andrew Cuomo, the state’s top regulator is openly encouraging more federal credit unions to convert to a state charter.