Green Check Verified, a fintech provider of compliant cannabis banking solutions and services, announced on Thursday its partnership with Southern Chautauqua Federal Credit Union.
Together, SCFCU will enlist GCV to launch Flora, the credit union’s newly formed cannabis banking program.
This partnership aims to improve integrated compliance for financial institutions and cannabis-related businesses in Chautauqua County.
“As the cannabis industry continues to grow, organizations like SCFCU are the ones making sure that these businesses have the banking services required to be successful,” Paul Chesek, GCV’s CGO, said. “We’re excited to get started with SCFCU on their journey. Together, we can make significant strides to improve compliance for financial institutions and cannabis-related businesses.”
GCV will extend key components of monitoring for marijuana-related business and workflow solutions to automate license verification and monitoring for violations, negative news, and other compliance red flags.
“Southern Chautauqua Federal Credit Union strives to be the resource in our community that services the underserved,” Lindsay Hubbard, chief compliance officer at Southern Chautauqua Federal Credit Union, said. “We quickly realized that there was a disparity in banking services available to the cannabis industry and rose to the occasion creating this program after months of research and development.”
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