BONITA SPRINGS, FL – July 19, 2023 – Green Check Verified (GCV), the leading fintech connector and technology and insights provider in the emerging cannabis market, today announced its partnership with Main Street Bank, a locally run, independent mutual savings institution serving communities in Massachusetts. The partnership is empowering Main Street Bank to expand its cannabis banking program while dropping its cannabis account service charge to $0.
“From a scalability standpoint, and from a compliance and cost standpoint, GCV cannot be beat,” said Ellen Dorian, president and chief operating officer of Main Street Bank. “By partnering with GCV, Main Street can better focus on our true mission — providing customer-focused, innovative products and services while working directly with our cannabis clients and helping them grow. By removing account service charge fees, we are excited to make our program more accessible and add better value to the cannabis businesses in our community.”
Main Street Bank began offering cannabis banking services in 2019 to help meet the growing demand from local businesses and cannabis operators to safely and securely manage their funds. The partnership with GCV is empowering Main Street Bank to scale its cannabis banking services, ensure compliance, and offload various manual tasks that can zap efficiency and hamper growth – including performing in-house background checks, vetting deposits and tracking monthly sales.
“Green Check Verified is proud to partner with Main Street Bank as its trusted advisor and partner in cannabis banking,” said Kevin Hart, CEO and co-founder of Green Check Verified. “This institution is driven by a relentless commitment to contribute to its communities by offering best-in-class products and services while keeping their customers at the forefront of decision-making. GCV looks forward to joining forces with Main Street Bank to advance this mission while streamlining and simplifying operational processes for cannabis operators.”
Working with both leaf-touching businesses, such as dispensaries, as well as ancillary services, Main Street Bank is taking bold steps to help cannabis operators in a challenging economic environment as shown by their recent elimination of cannabis account fees.
Green Check Verified, which continues to broaden its footprint in Massachusetts and across the U.S., has now onboarded nearly 150 financial institutions and over 6,800 cannabis-related businesses on its industry-leading platform.
About Main Street Bank
Main Street Bank is a locally run, independent mutual savings institution serving New England. We are united under a culture that strives every day to contribute to our communities by providing customer-focused, innovative products and services for individuals, families, local businesses, and community organizations since 1860, with particular attention to education and financial well-being. Main Street Bank provides an extensive array of financial services and products for all personal and business life stages.
About Green Check Verified
Green Check Verified (GCV) is modernizing the way cannabis businesses and financial institutions work together. Founded in 2017 by a team of technology, banking, and regulatory experts, GCV provides industry-leading technology and advisory services to nearly 150 financial institutions and over 6,800 cannabis-related businesses. Green Check Verified was included in the 2023 Forbes Cannabis 42.0 and named one of 50 game-changers in the cannabis industry in the 4th annual The Cannabis 50. It has been repeatedly recognized as Top Compliance Company and Top Compliance Leader at the PBC Awards, the premier cannabis industry honors. It also was named as one of top three Best Places to Work in Fintech in 2022 by American Banker. To learn more about Green Check Verified, visit www.greencheckverified.com and follow it on LinkedIn.