U.S. Eagle Federal Credit Union
“We started in 1935 with $50, one employee and 10 original members. We’ve grown since then because of you. We couldn’t be more grateful. “
- website: https://www.useagle.org/
Cannabis Banking Services
“We are a team of Cannabis Banking financial and compliance experts who believe in helping you maintain your cannabis business’s safety and security.
Backed by nearly 90 years of not-for-profit credit union experience and being the first financial institution in the country certified for outstanding U.S. Monetary Banking Protocols in Cannabis Banking and Hemp Operations, you’ll be in the best of hands.”
States Served:
- New Mexico
Official cannabis banking page: https://www.useagle.org/business/aery
Media coverage:
- Santa Fe New Mexican: Marijuana industry has only a couple banking options in New Mexico
Verdes Foundation, one of New Mexico’s largest medical cannabis companies, is set to open its first Santa Fe shop — a dispensary on downtown Shelby Street — at the end of November. It plans another new store in the city in 2022, when the state will launch legal sales of recreational cannabis. The company, which now operates in Albuquerque and Rio Rancho, won’t be funding these expansions with bank loans. “We self-capitalize our growth,” Verdes CEO Rachael Speegle said. “We don’t borrow any money.” That’s because no traditional banks or credit unions in New Mexico lend to cannabis businesses. Only two — Southwest Capital Bank and U.S. Eagle Federal Credit Union — openly accept account deposits from the industry. Both are considering cannabis lending in the future, top officials 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).