Frankenmuth Credit Union
Frankenmuth Credit Union is a federally insured, state-chartered credit union headquartered in Frankenmuth, Michigan and founded in 1964.
- website: https://frankenmuthcu.org/
Cannabis Banking Services
“Frankenmuth CU built the Envy program for you and your business. Whether you are a plant-touching business in the seed to sale process, you provide services to plant-touching businesses or you are simply an ancillary service provider to the cannabis industry – we have an account for you – that is the envy of all.”
States Served:
- Michigan
Official cannabis banking page: https://frankenmuthcu.org/envy/
Media coverage:
- mlive: Frankenmuth Credit Union launching a cannabis banking program
- “It was important for Frankenmuth Credit Union to provide banking services to cannabis-related businesses, but it was also important that we did so in the right way. This meant conducting extensive research into what the industry needed and developing a compliant program around those needs,” said CEO Vickie Schmitzer.
Bank Health Rating
DepositAccounts.com Rating: link
- DepositAccounts considers several health grade components:
- Texas Ratio (measuring bank credit risk);
- Texas Ratio trend;
- Deposit growth;
- Capitalization (difference between bank assets and liabilities).