
GFA CU, Century Bank Expand Marijuana Banking Operation
Two of the main financial institutions in Massachusetts that bank marijuana businesses are planning to expand their services.
Two of the main financial institutions in Massachusetts that bank marijuana businesses are planning to expand their services.
Gardner-based GFA Credit Union, which made waves at the end of last year for becoming the first financial institution in Massachusetts to announce it would serve recreational marijuana clients, is planning to merge with a New Hampshire credit union.
The Cannabis Business Advisory division of the Boston-based law firm Burns & Levinson recently co-hosted with Viridian Capital Advisors its second annual cannabis conference.
Up until very recently, it looked like the first recreational marijuana dispensary in Massachusetts would open without a financial institution to bank it.
A small Massachusetts credit union is making national headlines after it announced last week that it would serve recreational marijuana businesses, making it the first financial institution in the Bay State to wade into what is expected to be an absolutely massive industry.