California credit union to reward cannabis clients with dividend

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A California credit union made a splash with its cannabis clients by saying it will be splitting a  $250,000 dividend among its customers, including those in the marijuana industry.

“Eligible members, including cannabis operators as of December 31, 2021, will receive their share as part of a special dividend payment on their savings statement” this month, Santa Rosa-based North Bay Credit Union announced in a news release on Tuesday.

The credit union’s CEO, Chris Call, singled out marijuana businesses and said he knows the legal industry has been having a rough go in recent years.

“We know first-hand the headwinds the cannabis industry has faced over the last couple of years and we’re happy to be able to share this dividend,” Call said in the release.

This is not the first time North Bay has made headlines for working openly with marijuana companies.

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North Bay announced publicly in 2019 it would work with cannabis businesses and then was overrun with requests for services.

Last year, the California Cannabis Industry Association announced a partnership with the credit union in which they would offer additional services to cannabis companies.