Cannabis Business Solutions
Working together for safety and security
Wauna Credit union is committed to the safety and security of our communities, which includes the Cannabis Industry. We serve Oregon cannabis businesses and ancillary* cannabis related businesses inside our field of membership (FOM). Currently, our field of membership includes all of Clatsop and Columbia Counties in Oregon, all of Pacific County in Washington, and about half of Washington County in Oregon including Forest Grove, parts of Hillsboro, and areas around Hwy 26 as it travels north.
Wauna Credit Union is proud to offer
safe and secure banking options with Cannabis Business Solutions
Wauna Credit Union offers traditional banking deposit services to our cannabis related business members. You can bank transparently with us, with traditional services geared towards your industry and cash volume. We invested in a specialized compliance team specifically to meet the federal requirements of banking cannabis. We work closely with our business members to ensure accounts remain compliant with federal and state priorities.
Our Cannabis related members are given access to an advanced business Online banking platform with their membership. Each business can fully customize their experience by selecting service options that will meet their needs, and customizing access and limits for sub-users. Service options include: Basic ACH initiation functions, domestic wire initiation, QuickBooks web connect*,Mobile deposit and bill pay.
*Online QuickBooks version is not supported.
Applying for a Cannabis Related Business Account
The first step in getting in line for a business account is to be added to the wait list. We recommend gathering together all your required documentation prior to receiving initial contact from our compliance team.
We appreciate your patience while you are on the wait list. Due to the necessary due diligence in completing an application, it can be several months before you receive an email with an invitation to complete an application.
Once you have received an application from our compliance team you have reached the active processing queue. We process applications in a first come first served manner, so returning your complete application in a timely manner is key to keeping your placement. Missing documentation can cause significant delays in processing time.
Our application process is primarily electronic and requires several electronic documents to be completed. We recommend you gather the following documents in electronic format before starting the application process:
- Federal EIN
- Oregon Business Registry
- City license (if applicable)
- Authorized signer & owner information and IDs on file
- Corporate Structure documentation such as Articles of Incorporation, Bylaws, Corporate Resolution of Authority, Operating Agreement, Partnership Agreement, etc.
- Information on officers, owners, controlling manager
- Financial Statements
- Tax Returns & Federal Tax ID document
- Insurance information
- Bank account information and last 3 months of bank statements (if applicable)
- State marijuana licenses, copies of your application, and initial site inspection documents
*Ancillary business are defined as a non-cannabis touching business that's primary source of revenue is derived from knowingly supporting cannabis growing, processing and sales. These businesses include, but are not limited to; hydroponics and cultivation products, lighting, packaging and warnings, security services and equipment, technology and software, banking and payment processing, insurance, paraphernalia (Cannabis delivery systems), and professional training and education.