growning marijuana economy Source: ShutterstockProfessional/Shutterstock

The growing interest among credit union executives in the potential opportunities in serving the multi-billion-dollar cannabis and hemp industries has led trade organizations to organize national conferences.

Last year, for example, NASCUS held what is believed to be the first national credit union Cannabis Banking Symposium in Los Angeles that was a sell-out success, Brian Knight, NASCUS EVP and general counsel, said. The trade group is holding a second annual conference in Chicago on June 17-18 and made a slight name change to go along with it, the Hemp & Cannabis Banking Symposium. Hemp plants, containing little or no THC, the chemical that induces the high sensation, were federally legalized and are processed to produce all types of consumer and industrial products.

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Peter Strozniak

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