Top Credit Union Times editor: Embrace cannabis businesses

A top editor at the Credit Union Times says more credit unions should begin taking on marijuana businesses as customers.

“With a major state like California coming close to legalizing recreational pot – something that may tip the scales on legalization efforts in other states and pressure the federal government to give existing pot businesses easier access to financial services – it’s time for more credit unions to embrace the idea of serving the marijuana industry,” Natasha Chilingerian wrote in a piece published Sept. 16 on her trade publication’s website.

Chilingerian added that accepting marijuana businesses as customers is consistent with the “philosophy” of credit unions, including improving community safety by taking money off the street, and helping small businesses.

In an email, Chilingerian said the article represents her own views, versus Credit Union Times as a whole.

In the article, Chilingerian acknowledged it will be hard to persuade some credit union leaders that taking marijuana businesses is a good thing.

“It seemed each time we published an article on the topic, we received harsh comments from readers who wouldn’t even entertain the idea of working with business owners whom they felt were condoning an immoral, dangerous activity,” Chilingerian wrote.

As of March, 301 financial institutions were serving marijuana-touching businesses, according to federal figures obtained by the Associated Press.

3 comments on “Top Credit Union Times editor: Embrace cannabis businesses
  1. G on

    What irks me about this article is the comment “readers are calling this an immoral and dangerous activity” and yet these same hypocrites will drink and drive or condone drinking. The Cannabis community is faced with these ill informed hypocrites who believe all the dribble being put out there by Big Pharma and the alcohol and chemical companies who stand to lose BILLIONS of dollars if Cannabis becomes totally legal. Wake up and help the people that are medically benefiting from their use of medical cannabis. Legal prescription drugs are killing 30,000+ people a year. No one has ever, in the world, ever died from an overdose of Cannabis.

    Reply
    • Lawrence Goodwin on

      Excellent comment, G, excepting the “dribble” part. That’s what happens to basketballs. I assume you meant “drivel,” which would politely describe the arguments used by cannabis haters everywhere.

      Reply
  2. seesoclearly on

    Speaking of drivel, what is a most immoral and dangerous activity for us that lost a bunch in the 2008 bank and stock crash is trusting the banking industry with our money again while the feds still think pot is more dangerous than the crack that prez ronnie was selling to buy guns. This can be proven as they didn’t arrest him but have arrested many for smoking pot.

    Reply

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