Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday. But only for Spokane-area businesses, said Becky Smith, the board’s marijuana licensing manager: “They want to keep it local.” That could give Spokane marijuana growers, processors and retailers a leg up on other licensed pot businesses around the state. Most haven’t been able to find a bank or credit union that will accept their business, and some have been dropped when bank officials find out what it entails. Without bank accounts, marijuana businesses face the prospect of dealing exclusively in cash for purchases, payroll and sales/Jim Camden, SR. More here. (AP file photo for illustrative purposes)
Question: Do you think financial institutions should accept customers who are involved in the legal marijuana business?