Affinity Federal Credit Union expands cannabis banking programme with Green Check
Affinity Federal Credit Union, New Jersey’s largest credit union, has partnered with Green Check as it seeks to develop its cannabis banking programme.
Affinity FCU partners Green Check for cannabis banking
Launched earlier this year, Affinity’s cannabis banking programme seeks to connect cannabis-related businesses (CRBs) in the tri-state area – including dispensaries, wholesalers and cultivators – with banking and financial solutions.
The programme also supports members with financial literacy education and employee volunteering initiatives, funding grants and donations.
The credit union anticipates that its new partnership with Green Check, a fintech founded in 2017 to provide technology and advisory services to CRBs and financial institutions, will enable it to “broaden” the reach of its programme.
Green Check will strengthen the programme with additional industry insights, back-end support, risk assessment procedures and “extensive” educational resources as the credit union seeks to boost its development with an emphasis on compliance and financial wellbeing.
“Affinity understands that it’s essential to support every member of its communities, including legal cannabis businesses in the burgeoning tri-state market,” explains Kevin Hart, CEO and founder of Green Check.
Hart adds that the partnership seeks to “take some of the technical burden off Affinity as it etches its regional mark”, which he indicates could include the addition of CRB-specific vendor services in the future.
Green Check continues to centre itself within the US’ cannabis banking industry, and its partnership with Affinity follows a similar partnership the company formed with Tasi Bank, a community bank based in San Francisco, in August of this year.
