Marijuana Credit Union Could Open In 2015

Marijuana Credit Union Could Open In 2015
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FILE -- In this Sept. 18, 2012 file photo a caregiver picks out a marijuana bud for a patient at a marijuana dispensary in Denver. On Wednesday, May 7, 2014, Colorado lawmakers approved an uninsured coop banking scheme, another step to institutionalize the cash-only marijuana industry. But it won't happen overnight. The Federal Reserve must approve services like credit cards and checking; the state must regulate any coop; the industry and/or banking sector must come up with trustworthy institutions to deliver these services. (AP Photo/Ed Andrieski, File)

The world’s first financial institution established specifically for the marijuana industry could be open in Colorado by Jan. 1.

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