Numerica Credit Union to serve Eastern Wash. marijuana growers

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by ASSOCIATED PRESS & KREM.com

KREM.com

Posted on May 7, 2014 at 4:45 PM

Updated Wednesday, May 7 at 8:23 PM

SPOKANE, Wash. (AP) -- People who plan to grow or process marijuana in Eastern Washington can bank with a Spokane Valley credit union.
 
But Numerica Credit Union says it will not open accounts for people who plan to sell marijuana products to customers. 

The Spokesman-Review reported Wednesday that Numerica is the only financial institution in Washington that has said it is willing to handle the cash generated by legalized marijuana. 

Numerica is the state's fifth-largest credit union with around 100,000 members.
 
The credit union's executive group decided against creating accounts for pot retailers in order to comply with Justice Department guidelines on how to avoid being prosecuted.

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