Marijuana-Related Business (MRB) Banking
Wright-Patt Credit Union® (WPCU®) provides a wide range of banking services to qualified, licensed, and legally operating businesses involved in legalized marijuana operations in Ohio to help them safely grow and manage their business. Our goal is to provide access to standard commercial banking products to include ACH, wire, and online banking at competitive rates to compliant and qualified cannabis companies.
In addition to providing secure cash transport service options for our MRB businesses via direct contractual arrangements with our preferred cash transport service partner, we also offer MRB-specific deposit and lending products.
What Marijuana-related Business Does WPCU Serve?
- Marijuana dispensaries
- Cultivators
- Testing Labs
- Security services for cash transportation
- Wholesalers
- CBD/Hemp businesses
- Processors
Why Does WPCU Support Marijuana-related Businesses?
After thorough due diligence, including consulting with the Ohio Division of Financial Institutions (ODFI), Department of Commerce (DOC) and elected state officials, WPCU made the decision to offer limited banking services to qualified, licensed and legally operating businesses involved in legalized marijuana operations in Ohio. Without banking services, these businesses could be forced to operate on an all-cash basis, which could result in community safety issues. In addition, WPCU believes that legally operating businesses in Ohio have a right to banking services. With an emphasis on the safety of members and the communities the credit union serves, WPCU believes a responsibly banked industry is a safer industry.