Berkshire Bank, a leading community bank with financial centers in New England and New York, just announced the launch of it’s safe, affordable and accessible cannabis banking program.
The program provides a full suite of secure, compliant, tailored financial solutions and access to industry leading experts. Through a partnership with Green Check Verified, the leading cannabis banking compliance solution, Berkshire offers clients a seamless integrated platform that includes an effortless application process, transaction monitoring, compliance, and funds movement.
Senior EVP, Head of Retail Banking, Lucy Bellomia shared in a press release, “We recognize many banks do not serve the needs of businesses that sell cannabis-related products and services. These businesses have been underserved and we believe, as an industry, we must do better to promote economic equity and ensure access to safe banking services. Berkshire is pleased to step into this space to empower cannabis businesses with the right financial solutions.”
Berkshire Bank Program Features
This safe, compliance-driven cannabis banking program features:
- ACH and Wire Services
- Armored Cash Pick-Up
- Bank-at-Work (Employee Banking)
- Debit Card and Checks
- Financial Education
- Mobile and Online Banking
- Mobile Deposit
- Relationship Banking
- Deposit Account Control Agreements
- High Yield Savings and Money Market Account
- Wealth Management
- Easy application process
As part of its cannabis banking program, Berkshire will offer webinars, seminars, and educational events featuring trusted industry experts. The first two events, Coffee & Cannabis Conversation, will be held in Warwick, Rhode Island and Albany, New York. Expert panelists will share their knowledge and discuss the unique challenges faced by cannabis-related businesses. Attendees will gain insight, foster cannabis industry collaboration, learn best practices, and build relationships within this rapidly evolving sector.
