In a first, Mass. financial institution to offer banking for recreational marijuana - Cannabis News

As the state works through the final steps of launching the recreational cannabis market, the industry will now have a financial institution in the state to put all that cash.

The Cannabis Control Commission, which oversees the adult use cannabis industry, confirmed reports that Gardner Federal Credit Union has agreed to bank with recreational marijuana companies.

“The decision by GFA Federal Credit Union and Safe Harbor of Massachusetts to support legal cannabis businesses will make for a more stable, adult-use industry with increased public safety for everyone in the commonwealth, which remains the commission’s top priority,” said Cannabis Control Commission Chairman Steven J. Hoffman in an emailed statement.

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Jessica Bartlett ~ Boston Business Journal ~