Drawing from its long and successful history of providing services to industries and individuals who lack adequate access to quality financial services, GNCU delivered a safe, secure, and consistent banking experience for cannabis businesses.
Before credit unions and other select financial institutions were able to bank, everything was done in cash. Customers made cash purchases, which was amassed behind the scenes, resulting in liability for the CRBs. In turn, the business would have to pay their employees in cash as well.
For the individual worker, this causes several problems, from minor inconveniences to major obstacles. One such challenge is the qualification for loans and mortgages. Another is the ability for employees to pay employment taxes or manage payroll returns, among other legal obligations.
When working with GNCU, CRB employees can count on dependable, smooth and efficient banking and payroll solutions. When it comes to payroll management, employees of CRBs can rest assured that their state payroll tax filing, quarterly reporting, workers comp reporting, tax deductions and other procedures are being handled above board, just like any legal employee throughout the state, in any industry.
The financial wellbeing of Nevadans, and the communities they belong to, is what drives us. There’s never been a better time to bank with GNCU. To see how we can support your CRB, click here to reach out to our Commercial Services team.
Click here to learn more about Cannabis Business Banking in Nevada.