J. Mark McWatters said he's worried about large amounts of cashon the street – sales proceeds from recreational marijuanabusinesses in states where cannabis is legal. And the NCUA boardmember said he would like financial institutions, including creditunions, to do something about it.

McWatters has spoken out recently about finding ways for creditunions to serve the fledgling pot industry by helping thosebusinesses become active members of the financial services system.But such service opportunities have generated mixed reactions amongcredit unions in Alaska, Colorado, Oregon and Washington, whererecreational marijuana possession and use is now legal.

McWatters recently took his message public, discussing with credit unions attending the mid-April MountainWest Credit Union Association meeting in Denver reasons for servingcannabis businesses. Cultural issues regarding what is stillconsidered a Schedule 1 drug under federal law aside, McWatters wasconcerned with the public safety issues and tax base erosionfostered by financial institutions that aren't high on meeting theneeds of this emerging constituency.