Basking Ridge-based Affinity Federal Credit Union on Wednesday announced it partnered with Green Check, which will allow Affinity to broaden its services and offerings to the legal cannabis-related business segment of the communities it serves.
Green Check is a fintech connector and technology and insights provider in the emerging cannabis banking market.
Affinity’s cannabis banking program, which launched earlier this year, offers banking solutions to a range of cannabis-related businesses, including dispensaries, cultivators, wholesalers, manufacturers and ancillary businesses. The new partnership will provide a seamless, integrated platform for CRB transaction monitoring and movement of funds.
Expanding the program and partnering with Green Check also will open up access for the legal medicinal and adult-use cannabis markets, providing the support they need from a banking partner by offering a full range of consumer products to meet the needs of cannabis-related business employees.
“Affinity strives to support every member of its communities and ensure that everyone has access to banking solutions,” Kevin Brauer, CEO of Affinity, said. “This partnership will enable us to offer even more support to the legal cannabis market and its employees, which aligns with our community-centric philosophy and mission to provide comprehensive services and offerings to our members.”
For the first year following the launch of the program, Affinity will waive application fees related to the approval process of all CRBs that want to bank with Affinity. CRB partners also will have access to Affinity’s free financial education resources for members, which include training sessions, podcasts and comprehensive articles. The credit union expects this initiative to impact a large portion of the New Jersey community, given the growing adult-use and medicinal cannabis market in the state.