A New Haven regtech firm that helps provide solutions for cannabis-related banking now has the support of the state’s main credit union trade association.
The Credit Union League of Connecticut and Green Check Verified recently announced a new partnership.
Green Check Verified provides dispensaries with the tools they need to access local banking services, while providing financial institutions with compliance tools for the heavily regulated marijuana industry.
“Credit unions are looking for the right tools to provide much needed services to this industry,” Christopher Whalen, vice president of marketing for CULC, said in a statement. “With a focus on enhancing the success of our credit unions, Green Check is the right fit to help Connecticut’s credit unions serve this space now and into the future.”
Green Check provides financial institutions with enhanced due diligence workflows, real-time access to sales, inventory and organizational details, intelligent transaction monitoring and cannabis FinCEN reporting tools.
“We are pleased to be partnering with the league around the deployment of our new platform,” Kevin Hart, CEO of Green Check Verified, said in a statement. “This partnership will expand our mission to bridge the gap between cannabis businesses and local financial institutions, while providing critical support to Connecticut’s credit unions.”
State regulators recently gave the go-ahead on nine new medical marijuana facilities, in addition to the nine existing dispensaries and four existing producers already up and running.
While recreational marijuana is not yet legal in the Nutmeg State, it is in Massachusetts and Gov.-elect Ned Lamont has publicly said that legalizing recreational marijuana is one of his priorities.





