Coast Central Credit Union + Green Check

Tell us about CCCU, your mission and your field of membership.
Coast Central Credit Union (CCCU) is a not-for-profit credit union dedicated to serving Humboldt, Trinity and Del Norte counties in Northern California. Our mission is to provide exceptional financial services while supporting the economic well-being of our members and the communities we serve. As a member-owned institution, we prioritize financial accessibility, personalized service, and community reinvestment. Membership is open to individuals who live, work, or own a business in our field of membership, allowing us to offer tailored financial solutions that meet the unique needs of our diverse member base.

Could you tell us how CCCU came to the decision to offer services for cannabis-related businesses?
Coast Central recognized the significant gap in banking services for the legal cannabis industry, particularly in our primary service areas of Humboldt and Trinity counties, which are part of the Emerald Triangle – historically the largest cannabis-producing region in the United States. As a credit union, our mission has always centered on serving unbanked and underserved communities. Given the lack of banking options for state-licensed cannabis businesses, we saw an opportunity to provide a necessary financial service while also addressing public safety concerns associated with a cash-heavy industry. In 2019, our Board of Directors officially approved the establishment of a pilot program. By offering banking services to cannabis-related businesses, CCCU is helping to bring financial stability to the industry, reduce reliance on cash, and contribute to a safer and more regulated business environment in our community.

Could you describe the types of businesses you work with?
We work with all types of state-licensed cannabis businesses, including but not limited to retailers, manufacturers, distributors, cultivators and microbusinesses. In addition to direct, licensed cannabis operators, we also serve indirect, Tier II cannabis-related businesses that derive a significant portion of their revenue from servicing the cannabis industry. Additionally, we offer banking services to hemp-related businesses that meet our compliance requirements. We are committed to expanding our services where possible to support the growth and long-term success of this industry as it continues to evolve and gain legal recognition.

Could you describe the products and services you offer to cannabis-related businesses and how you differ from other institutions offering services to the cannabis industry?
At Coast Central, we offer a comprehensive suite of financial services to CRBs, including deposit accounts, savings certificates, debit cards, ACH origination and more. While we do not currently offer lending to direct, licensed cannabis businesses, our focus is on providing essential banking solutions that support their operations. We strive to treat cannabis businesses as much like any other business as possible, despite the compliance challenges. Our program features a set monthly service fee, with the opportunity for businesses to qualify for a 50% reimbursement based on transaction volume, helping to make banking more accessible and cost effective.

What feedback have you received about your program from cannabis businesses in your community?
The feedback from our cannabis community has been positive. Our members are grateful to have access to banking services, especially given the challenges the industry faces in securing financial institutions willing to work with them. Many of our members also recognize the compliance requirements we must adhere to in order to offer these accounts and appreciate the effort involved in maintaining a compliant and sustainable program. Of course, the reduction of fees is often a hot topic, given the many fees and taxes already placed on these businesses. We recognize this challenge and do our best to minimize fees while still ensuring our program remains sustainable for the long term.
As a couple of our members have shared:

“We appreciate Coast Central Credit Union and Green Check for all the hard work! Teamwork making the dream work. Always great customer service and support navigating this complex industry.”

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“Coast Central Credit Union and the Specialty Member Services crew have been a passionate team helping us thrive in the California cannabis industry. Incredible customer support and fast access to banking solutions needed by our company.”

Why did CCCU choose Green Check Verified as its cannabis banking partner?
When selecting a cannabis banking partner, we prioritized finding a solution that would support both compliance and operational efficiency. Green Check stood out due to its robust compliance management platform, seamless integration with our existing processes, and strong industry expertise. Green Check allows us to efficiently monitor transactions, conduct reviews and due diligence, and ensure ongoing compliance with state and federal guidelines. Their platform has enabled us to scale our program while maintaining the high level of regulatory oversight required in this industry.

What has the experience been like working with Green Check?
Our experience working with Green Check has been excellent. Their support team is not only responsive and knowledgeable but also genuinely committed to the success of our cannabis banking program. They provide direct support not only to our team but also to our members, assisting with compliance requirements and system troubleshooting as needed. Green Check has been highly receptive to feedback, continuously improving their platform to better meet our needs. Their team has also been an invaluable educational resource, helping us and our members navigate the complexities of cannabis banking. Overall, the partnership has been incredibly positive, and we appreciate their dedication and expertise.

Do you have any advice for other financial institutions considering entering the space?
Have conversations – lots of them! Engage with your community, leadership team, legal team, and Board of Directors to gauge their understanding and tolerance for entering this highly regulated industry. Understanding your Board’s risk comfort early on will help shape your approach and determine whether cannabis banking is a viable path for your institution. It’s also crucial to educate yourself on the legal and regulatory landscape at the local, state and federal levels. Compliance requirements for cannabis businesses vary by region, and ensuring your institution can meet these standards is key to building a sustainable program. Consider connecting with other institutions already in the space to gain beneficial insights as you navigate challenges and set realistic expectations. Partnering with a trusted compliance and technology provider, like Green Check, can streamline your processes and ensure your program is effective and scalable. Be prepared to dedicate necessary resources; cannabis banking requires a strong compliance framework, ongoing due diligence and a commitment to staying ahead of regulatory changes. Success depends on a thoughtful and well-executed strategy.

Do you have any advice for cannabis businesses looking to secure better banking services?
Be organized, transparent, cooperative, and understand banking requirements and fee structures. Seek long-term relationships with institutions that have well-established cannabis banking programs and be proactive with any business changes.

If a cannabis-related business would like to learn more about working with CCCU, what is the best way for them to contact you?
Talk to us! If your cannabis business is located in Humboldt, Trinity or Del Norte County, we’d love to connect and explore how we can support you. Our team is knowledgeable, understands the complexities of cannabis banking and is here to help. Whether you have questions about account requirements, compliance expectations or banking solutions, we’re ready to assist. For additional information, contact our Specialty Member Services team at the channels provided below:
Email: specialty@coastccu.org
Phone: (707) 445-8801 ext. 1540