Signal Financial Credit Union + Green Check Verified

Tell us about Signal Financial, your mission, and your field of membership.  

Signal Financial Federal Credit Union, founded in 1947, is dedicated to empowering members to take ownership of their financial journeys, no matter where they are on it.  Serving more than 23,000 members, membership is open to individuals who live, work, worship, or attend school in Washington, D.C., or within the Capital Beltway in Prince George’s County, Maryland, as well as employees and retirees of over 600 select employer groups.

Could you tell us how Signal Financial came to the decision to offer services for cannabis-related businesses?

Having started our business banking in 2008, Signal Financial Federal Credit Union has a long history of supporting business owners with their banking and lending needs, to ultimately support them in achieving their financial goals and business growth.  It is with this same passion that we approached offering services for cannabis-related businesses. Signal Financial recognized the challenges legally operating cannabis-related businesses face in accessing banking services, and to support these businesses and promote community safety, we made the decision to offer tailored financial solutions that address their unique needs.

Could you describe the types of businesses you work with and your current and future goals for your program?

Signal is a full-service financial institution for all Direct, Indirect, and Hemp/CBD/THCa organizations. From conditional licenses to established businesses, the credit union offers full-scale solutions to set your business up for success. 

Through our alignment with leading business solution providers—Signal Financial’s current and future goals ultimately are to create a network for our cannabis business members that will support their growth and success. From cash services, payment processing, HR, payroll, compliance, ATMs, and more, Signal looks to bring holistic business solutions for all items inside and out of the traditional banking and lending relationship.

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? 

Signal Financial Federal Credit Union provides essential banking services, including checking and savings accounts, tailored for cannabis-related businesses. Unlike institutions that may view these businesses solely as high-risk, we focus on building genuine relationships, understanding each member’s unique needs, and offering personalized support. As a credit union, Signal Financial is a not-for-profit, owned and operated by our members. Profits are returned to our members in the form of better rates, reduced fees, and improved service. It is with this not-for-profit mindset that we approach every interaction with our members, focused on how we can help each business and individual bank easier, bank faster, and bank better. 

What feedback have you received about your program from cannabis businesses in your community?

The credit union has received positive feedback from cannabis-related businesses in our community. Members and businesses we’ve interacted with appreciate our tailored financial solutions and personalized support. Our commitment to building genuine relationships and providing respectful service has been particularly valued by our members. 

Why did Signal Financial choose Green Check as its cannabis banking partner?

Getting into cannabis banking is no easy task, and for Signal that meant choosing the best partner who could help us create a fully compliant program from the start. When looking for that partner it was clear that Green Check valued the same aspects of trust, transparency, and member-first relationship building, that Signal holds dear. It was a natural fit when it came to our partnership, and it has been a pleasure working alongside the entire Green Check team!

What has the experience been like working with Green Check?

Green Check has been an excellent partner from the start! Not only are they willing to share their extensive experience and network of connections in the industry, but they are also willing to listen and truly design the program that our institution felt comfortable with. Beyond their partnership, the platform is easy to use, understand, and leverage to drive you and your cannabis-related businesses forward.

Do you have any advice for other financial institutions considering entering the space?

Financial institutions considering services for cannabis-related businesses (CRBs) should develop robust compliance programs to adhere to federal and state regulations in the states in which they plan to bank cannabis. Prior to starting any program, it’s encouraged that you meet with key vendors and regulators to ensure alignment in your overall goal of establishing a cannabis banking program. It is no small task, but with the right people engaged in a trusting and transparent conversation, setting up a program is more than possible.

Do you have any advice for cannabis businesses looking to secure better banking services?

At Signal, better banking services mean better relationships with our members. When seeking a financial partner, know what matters most to your business and what you want from a financial institution. By finding a financial partner who is knowledgeable in the industry and takes the time to get to know you and your individual business needs, you will build a trusted, valued relationship with an institution vested in your success. 

If a cannabis-related business would like to learn more about working with Signal Financial, what is the best way for them to contact you?

You are able to message our entire cannabis team directly by emailing cannabisbankingsupport@signalfinancialfcu.org, or by reaching out to, our Business Development Officer and Cannabis Banking Specialist, Tausif Lodi, at tlodi@signalfinancialfcu.org. We look forward to speaking with you soon!