Affinity Federal Credit Union Selects Green Check to Scale its Cannabis Banking Program
New Jersey’s largest credit union sets out to expand its cannabis offerings in the tri-state
Green Check (GC), the leading fintech connector and technology and insights provider in the emerging cannabis market, is partnering with Affinity Federal Credit Union (“Affinity”) – a member-owned, community-focused, full-service financial institution headquartered in Basking Ridge, New Jersey, with more than 18 branches throughout the tri-state area.
This partnership empowers Affinity to grow its cannabis banking program and broaden its reach to the legal cannabis-related business (CRB) segment of the communities it serves. According to June reports, sales from New Jersey's legal cannabis industry, both recreational and medicinal, generated approximately $180 million so far this year.
“Partnering with Green Check reflects Affinity’s unwavering commitment toward improving the financial well-being of our communities,” said Bryan Watkinson, AVP/BSA Officer, Risk Operations. “Green Check has guided us in developing and maintaining a compliant CRB community program – from providing us with industry insights and back-end support, to offering us a simple risk assessment process and extensive educational resources. We look forward to advancing our community-based approach and providing all of our members with a comprehensive roster of modern financial services and products they need to thrive in a 21st-century economy.”
Affinity, which launched its cannabis banking program earlier this year, offers banking solutions to a range of CRBs, including dispensaries, cultivators, wholesalers, manufacturers, and ancillary businesses. It also provides a full line of consumer products for their employees and family members. Committed to supporting local communities, Affinity offers ongoing financial literacy education, employee volunteering, funding grants and donations, and more to its members.
“Affinity understands that it’s essential to support every member of its communities, including legal cannabis businesses in the burgeoning tri-state market,” said Kevin Hart, CEO and Founder of Green Check. “We’re proud to help bolster these efforts through our partnership and take some of the technical burden off Affinity as it etches its regional mark and considers adding vendor services to CRBs down the road. The future is bright for Affinity — and Green Check will stand behind it every step of the way.”
Green Check, which continues to expand its footprint across the U.S. – including on the West Coast and in the Northeast – has now onboarded over 140 financial institutions and more than 7,000 CRBs on its industry-leading platform.