Technology Eases Pot Banking Pain

Technology Eases Pot Banking Pain

March 8, 2017By Jessica LeeArticles, Credit Unions

While the Colorado-based Fourth Corner Credit Union aimed to serve the cannabis industry, another idea was brewing – an application that could ultimately be the saving grace for similar financial institutions. A software platform, called Hypur, was being developed as a compliance tool to assist cash-intensive businesses. Its original intent was to service payday lenders … Read More

Pot Banking Fight Continues

Pot Banking Fight Continues

March 8, 2017By Jessica LeeArticles, Contributions, Credit Unions

The recent dismissal of Fourth Corner Credit Union’s case against the Federal Reserve left the legal cannabis industry hanging once again in its search for legitimate banking services. But the judge’s dismissal, which occurred after the Federal Reserve denied the Colorado-based credit union a master account, sounded like a challenge to Congress, Fourth Corner President/CEO … Read More

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 5

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 5

March 8, 2017By Andre HerreraBanks, Credit Unions

This is the fifth in a series of articles covering the generation of non-interest income in cash intensive businesses with an emphasis on Marijuana Related Businesses (MRB’s). The first article discussed evaluating if entering this vertical is appropriate for your specific institution. The second article focused on the regulatory guidance that surrounds providing financial services … Read More

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 4

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 4

March 8, 2017By Andre HerreraBanks, Credit Unions

This is the fourth in a series of articles covering the generation of non-interest income in cash-intensive businesses with an emphasis on Marijuana Related Businesses (MRB’s). The first article discussed evaluating if entering this vertical is appropriate for your specific institution. The second article focused on the regulatory guidance that surrounds providing financial services to … Read More

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 3

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 3

March 8, 2017By Andre HerreraBanks, Credit Unions

This is the third in a series of articles covering the generation of non-interest income in cash intensive businesses with an emphasis on Marijuana Related Businesses (MRB’s). The first article discussed evaluating if entering this vertical is appropriate for your specific institution. The second article focused on the regulatory guidance that surrounds providing financial services … Read More

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 2

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 2

March 8, 2017By Andre HerreraBanks, Credit Unions

This is the second in a series of articles on generating non-interest revenue from cash intensive businesses with an emphasis on legal Marijuana Related Businesses (MRB’s). In the first article, I discussed evaluating if this vertical is appropriate for your specific institution. This installment focuses on the regulatory guidance related to providing financial services to … Read More

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 1

Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 1

March 8, 2017By Andre HerreraBanks, Credit Unions

Financial institutions for years have been seeking ways to supplement traditional revenue by increasing their profits through non-interest income. More challenging verticals such as cash intensive businesses are becoming more attractive as profitable clients. When discussing the various sub categories of cash intensive businesses (check cashers, payday lenders, MSB’s, etc.), the emerging vertical obtaining the … Read More

Cannabis and Credit Unions

Cannabis and Credit Unions

February 28, 2017By Andre HerreraArticles, Contributions, Credit Unions

A conservative legal view says “don’t go there” when it comes to working with marijuana-related businesses. Those who hold this view say the U.S. government could prosecute any CU serving marijuana-related businesses—often called MRBs—at any time, even though certain states allow the legal sale of marijuana… Continue reading on CUES.org or here