Banking for Cannabis Industry Employees | Community Choice CU (2024)

Community Choice/Cannabis Industry Employees

Your local, 420-friendly credit union

The career you love shouldn’t limit your access to premium loans and services. We believe everyone deserves the same financial opportunities, regardless of their profession, and offer a range of products tailored to meet the specific needs of cannabis industry employees.

Banking for Cannabis Industry Employees | Community Choice CU (1)

Cultivate your financial future

We offer personalized banking solutions, from checking accounts to home loans, with user-friendly features and friendly, judgment-free customer service.

Banking for Cannabis Industry Employees | Community Choice CU (2)

No minimum balance

We’re here to help you bank, save, and earn, not charge you unnecessary maintenance fees.

Banking for Cannabis Industry Employees | Community Choice CU (3)

24/7 access

Manage your accounts anytime, anywhere with unlimited online and mobile access.

Banking for Cannabis Industry Employees | Community Choice CU (5)

Travel and entertainment perks

Enjoy discounts on shopping, travel, movies and more.

Banking for Cannabis Industry Employees | Community Choice CU (6)

Debit Advantage®

Eligible accounts can secure new purchases with Buyer’s Protection and an Extended Warranty.

Banking for Cannabis Industry Employees | Community Choice CU (7)

Cell phone protection

Receive up to $300 of replacement or repair costs.

Banking for Cannabis Industry Employees | Community Choice CU (8)

TruStage Insurance

Up to $10,000 accidental death and dismemberment insurance.

Banking for Cannabis Industry Employees | Community Choice CU (9)

Here to help you grow

A Personal Advisor is available to help you establish financial goals that work for you.

Be a part of something bigger

04.9Stars on Google

0K39.2KTotal Volunteer Hours

$0M1.5MScholarships Given

089Years of Service

Get exactly what you need to grow your personal success

Find the smart financial solutions you want from big banking and the one-on-one service you only get from your neighborhood credit union.

  • Access to 20+ Member Centers across Michigan
  • Get paid up to 2 days early with direct deposit
  • Earn GetBigReward$ on every eligible purchase
Banking for Cannabis Industry Employees | Community Choice CU (10)

Banking for Cannabis Industry Employees | Community Choice CU (11)

Hear from happy members

  • “I have been with Community Choice for 35 years I would recommend anyone and everyone to be able to experience my appreciation and good quality service from these great people. Again, thank you for your service.” Patricia S.
  • “We have been with the credit union for a long time, we have consistently received wonderful customer service and help when needed. We tell everyone about our wonderful credit union and recommend it often. Your staff is very pleasant and easy to work with. I appreciate knowing I can come in and get the help I need. Thank you for being there for us.” Thomas R.
  • “Great CU! Courteous, professional, informative and a great place for checking, savings, and an auto loan if needed. Wouldn’t go anywhere else since starting my relationship with Community Choice! As always, thank you for great service!” Michelle K.
  • “I should have joined Community Choice Credit Union a long time ago!! Everyone there is so friendly and professional. Keep up the good work.” Sylvia T.

Join the credit union that believes in you

We deliver all the modern tools and services you need while offering personable, neighborly service.

Banking for Cannabis Industry Employees | Community Choice CU (12)

Enjoy 24/7 account access and support

Banking for Cannabis Industry Employees | Community Choice CU (13)

Get paid early with Express Pay

Banking for Cannabis Industry Employees | Community Choice CU (14)

Upgrade your financial wellness with Choice Map

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Stay local with 20+ member centers and 30K+ fee-free ATMs

Banking for Cannabis Industry Employees | Community Choice CU (16)
Banking for Cannabis Industry Employees | Community Choice CU (17)

New members
earn $50*

Share promo code “New Partner” at account opening and get one step closer to $50. In the first 60 days after opening your account, you’ll need to complete ONE of the following to receive $50:

  • Set up direct deposit — min. $300 total
  • Complete 20 Mastercard® transactions


*To receive the incentive payment new members must meet the following qualifications: Must be 18 or older. The account must be in good standing with no delinquent loan balance, no negative share balance, or other indicator of an account not in good standing. The account must be open for 60 days and must have completed one of the following: (1) $300 in total direct deposits OR (2) Twenty (20) or more individual or combined debit/credit Mastercard®️ transactions within 60 days of opening account. Incentive payment will occur on the Monday following the 60th day of account opening when all qualifications have been met. Incentive payment will be deposited to the members checking account if there is one on file; if no checking account is on file, deposits will be made to the savings account.

Incentive payment deposits are reported to the IRS. Any applicable taxes are the responsibility of the recipient. This offer may not be used in combination with other promotional offers. All new accounts are subject to approval and individual(s) must qualify for membership based on Community Choice Credit Union’s field of membership criteria. This offer is subject to change and could be discontinued at any time.

Banking for Cannabis Industry Employees | Community Choice CU (2024)


Why are you interested in the cannabis industry answer? ›

Why do you want to work in the cannabis industry? Sample answer: I'm passionate about the potential health benefits of cannabis and believe in its positive impact on people's lives. I want to be part of an industry that promotes wellness and offers a unique customer experience.

What is the Safe Banking Act for cannabis banking? ›

The Secure and Fair Enforcement Regulation Banking Act (SAFER) Banking Act would ensure that all businesses—including State-sanctioned cannabis businesses—have access to deposit accounts, insurance and other financial services.

Why can't cannabis companies use banks? ›

That's because banks are licensed federally and they cannot knowingly accept and do business with funds that come from federally illegal means, even if the means — in this case, cannabis — is legal on a state level in most states.

What is the point of banking cannabis? ›

Point of Banking allows your cannabis business to accept bank cards without a traditional merchant account through an easy-to-use terminal, or cashless ATM.

What should I say in a cannabis interview? ›

Practice talking about your skills, experiences, and why you're interested in working in the cannabis industry. The more you practice, the more confident you'll become. You are not the first person they've interviewed and you are not the last. During the interview, it's important, to be honest and respectful.

What attracts you to the cannabis industry? ›

"I want to work in the cannabis industry because I have a passion for cannabis and the things it can do, there are many opportunities for growth, and I like the idea of contributing to a new and evolving industry" is a good answer to this interview question.

What does Safe Act mean in banking? ›

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008, known as the SAFE Act, is a federal law designed to protect consumers and reduce fraud. Each agency-regulated financial institution is assigned its own entity ID in the Nationwide Mortgage Licensing System and Registry (NMLSR).

Will the Safe Banking Act pass this year? ›

Yet there is reason for optimism that 2024 might finally be the year this happens because, on Sept. 27, 2023, the SAFER Banking Act made it out of the Senate Banking Committee (by a vote of 14-9).

What bank is cannabis friendly in California? ›

Herring Bank is a Cannabis-friendly bank in Los Angeles. Herring Bank supports and aids the financial needs of cannabis-related businesses in California.

Why is the cannabis industry cash only? ›

FAQs: Why Dispensaries Don't Take Cards

Dispensaries can't use cards because cannabis is still illegal at the federal level. This means that banks and credit card companies won't allow marijuana-related transactions to be facilitated over their network.

Does Chase do cannabis banking? ›

Though marijuana is now legal in some form in most U.S. states, many banks such as JPMorgan Chase, Bank of America and Wells Fargo continue to say they don't bank with marijuana companies because it is against federal law.

Can cannabis companies have 401k? ›

Federal tax credits and tax deductions are available to cannabis companies and organizations that adopt a 401(k) Plan. Tax credits available to companies for starting a retirement plan are different from tax deductions available to companies for making company contributions to a retirement plan over time.

What is the cannabis banking policy? ›

The Safe Banking Act, officially known as the Secure and Fair Enforcement Banking Act of 2023, is legislation designed to facilitate banking and financial services for the cannabis industry by providing federal protection for financial institutions that offer services to cannabis-related businesses operating legally ...

What is the cannabis financial model? ›

A cannabis cultivation financial model typically includes startup costs, operating expenses, revenue projections, yield estimates, and investment returns. It also factors in regulatory compliance costs and market price fluctuations to ensure accuracy and reliability for investors and stakeholders.

What is the CBA in cannabis? ›

A natural compound derived from a proprietary complex of Copaiba and Passionfruit Seed Oils, CBA is an alternative source of cannabinoids that is not derived from hemp or cannabis.

Why should I work in the cannabis industry? ›

A career path for everyone

With this tremendous growth and the need for specialized knowledge, the opportunities are, truly endless. There's a cannabis job for almost every type of professional. The industry has verticals in retail, agriculture, manufacturing, finance, consumer-packaged goods, and more.

Why is cannabis so interesting? ›

The experience of novelty arises from the activity of our natural THC-like brain chemistry (the endogenous cannabinoid system, or ECS). As a result, cannabis kicks the pleasure of novelty into high gear, much to most people's enjoyment.

What questions are asked at a cannabis extraction interview? ›

General questions
  • What's appealing to you about the marijuana industry?
  • Have you worked in the marijuana industry before?
  • What do you like to do during your free time?
  • Are you familiar with our products? ...
  • What prompted you to apply to our dispensary?
  • How would you describe your relationship with cannabis?
Nov 1, 2023

Why are you interested in pharmaceutical industry? ›

With job stability, competitive salaries and benefits, diverse career paths, opportunities for professional development, and the ability to make a difference in people's lives, there are many reasons to consider a career in the pharmaceutical industry.

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