Santa Cruz Community Credit Union
“Santa Cruz Community Credit Union (SCCCU) officially opened its first branch in Downtown Santa Cruz on August 16, 1977. What began as a way to provide credit and financial services to low- and moderate-income residents of Santa Cruz County has expanded into a $190 million financial cooperative with approximately 15,000 members. SCCCU currently has three branches – Santa Cruz, Soquel, and Watsonville – and has been certified as a low-income and Community Development Financial Institution (CDFI) for over 26 years. In fact, SCCCU was one of the first credit unions in the nation to become a CDFI and is well-known nationwide.”
- website: https://scccu.org/
Cannabis Banking Services
“You need a banking partner that understands the unique challenges of businesses in the cannabis industry. Our Cannabis Accounts are insured by the NCUA, giving your money an extra layer of security. Plus, you can take advantage of our smart banking tools and knowledgeable team to help your business continue to thrive. Best of all? We’re right here in your community.”
States Served:
- California
Official cannabis banking page: https://scccu.org/business/cannabis-accounts/
Media coverage:
- Carr said Santa Cruz Community Credit Union was banking cannabis businesses long before medical marijuana was ever legalized in the Golden State. In the process it gathered significant experience in dealing with NCUA and the state’s DBO and for many years “no one said anything.” That changed when legalization occurred, Carr said.
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).