Credit Union 1 Joins Green Check Verified Platform to Better Serve Cannabis Businesses Across Multiple States
IL-based credit union ramps up its cannabis program by partnering with leading cannabis banking tech provider
BONITA SPRINGS, FL, May 31, 2023 (GLOBE NEWSWIRE) — Green Check Verified (GCV), the leading fintech provider of compliant cannabis solutions and services to financial institutions, today announced Credit Union 1 (CU1) joined its cannabis financial and business services platform to improve and expand its cannabis banking offering. The agreement will see CU1’s existing customers migrate to the GCV platform, where they will access a more seamless banking experience and new options for business services.
“Credit Union 1 has been on our radar for a long time given its leadership in cannabis banking,” said Paul Chesek, chief revenue officer at GCV. “We are thrilled they are joining our platform, which will greatly streamline their operations, alleviate their compliance burden, and grow the program in their field of membership.”
Headquartered in Illinois, CU1 serves a variety of cannabis businesses in multiple states and has one of the leading cannabis banking programs in the U.S. By joining the GCV platform, CU1 cannabis members will enjoy a more user-friendly, intuitive onboarding and ongoing due diligence process – and gain access to additional services like cannabis-friendly insurance, HR/payroll, payments and much more.
“Our credit union’s motto is ‘Better Banking for All,’ and this of course extends to the underserved, legal cannabis business operators in our communities who have struggled to find adequate financial services for far too long,” said James Thomas, head of treasury management at CU1. “Green Check’s reputation in the industry is stellar, and we are thrilled to partner with them to upgrade and expand our footprint and further close the gap in services for cannabis businesses. In addition, we believe that partnerships are an important strategy for growth. GCV’s Green Check Connect marketplace has incorporated the same partners that we feel are important to building cannabis offerings.”
With its recent launch of the Green Check Connect marketplace, GCV now offers a much needed, one-stop shop for vetted, reliable and cannabis-friendly financial and business services for the cannabis industry. Participants in the Green Check Connect marketplace benefit from the platform’s intelligent matching technology, which matches cannabis businesses with best-fit service providers tailored to their needs.
To date, Green Check Verified has onboarded nearly 150 financial institutions and serves over 5,000 cannabis-related businesses on its industry-leading platform.
About Credit Union 1
Credit Union 1 is celebrating 65 years of helping members reach their financial goals. CU1 is a member-owned, not-for-profit financial cooperative serving 100,000 members across 17 branches located in Illinois, Indiana, Georgia and Nevada. CU1 also serves members nationwide thanks to a highly rated mobile app, 30,000 surcharge-free ATMs, and 5,000 shared-branch locations. CU1’s mission is to exceed our members’ expectations by delivering innovative financial solutions to help achieve their maximum economic potential. To learn more, visit http://www.creditunion1.org.
About Green Check Verified
Green Check Verified (GCV) is modernizing the way cannabis businesses and financial institutions work together. Founded in 2017 by a team of technology, banking, and regulatory experts, GCV provides industry-leading technology and advisory services to more than 130 financial institutions and over 4,000 cannabis-related businesses. Green Check Verified was included in the 2023 Forbes Cannabis 42.0 and named one of 50 game-changers in the cannabis industry in the 4th annual The Cannabis 50. It has been repeatedly recognized as Top Compliance Company and Top Compliance Leader at the PBC Awards, the premier cannabis industry honors. GCV also was named as one of top three Best Places to Work in Fintech in 2022 by American Banker. To learn more about Green Check Verified, visit www.greencheckverified.com and follow it on LinkedIn.
CONTACT: Rachel Stingone Caliber Corporate Advisers [email protected]
