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Learn how to bank a cannabis business, how do cannabis companies bank, and what is cannabis banking in Washington state with Obee Credit Union Olympia

Cannabis Business Accounts

Let's Be Buds

 

One of the First in the Country to Offer Banking Services to the Cannabis Industry.

O Bee Credit Union started in 1955 inside the Olympia Brewery. We have a proud history of offering financial services to the underserved. As one of the first in the country to serve the cannabis industry we have already jumped through all the hoops for you. We offer safe, secure banking along with industry knowledge and expertise. Let's be buds.


We Offer:

  • Some of the lowest fees in Washington state
  • Discounts for utilizing armored car service
  • First-in-the-industry expertise
  • Safe, secure, hassle-free banking for the cannabis industry
  • Banking for Washington state residents, and most Washington cannabis businesses
  • Direct deposit for merchant services
  • Check Deposit via mobile app
  • Free checking and savings for employees
  • Employee loan opportunities
  • Iconic Olympia and Rainier debit cards
  • Money market accounts
  • Electronic payment processing (ACH)
Talk to Our Cannabis Business Specialist

Thierry Steuby Cannabis Banking in Washington State Specialist
Thierry Steuby
Cannabis Business Specialist
360.528.5315
E-MAIL Thierry
Car loan and equipment loan cannabis banking in Washington stateWe offer Vehicle and Equipment Loans
for the Cannabis Industry

O BEE CREDIT UNION was one of the first in the country to provide banking for cannabis businesses. We offer first-in-the-industry knowledge and expertise. Open to Washington state cannabis businesses. 

Our experienced business team can answer questions and guide you through the process of securing loans for business vehicles and equipment.* 

 * Prior to consideration for loan products, i502 cannabis businesses must apply for O Bee Credit Union membership and meet all licensing requirements as outlined by the Washington State Liquor Control Board (WSLCB). Existing O Bee i502 members may apply for a loan directly. For more information on i502 membership visit www.obee.com/buds.

 
Talk to Our Business Loan Team
Tim Timmer VP Business Lending and Cannabis Banking in Washington State

Tim Timmer

VP Business Lending 360.528.5314E-MAIL Tim
 
Leah Hontz Business Loan Specialist Cannabis Banking in Washington State

Leah Hontz

Business Loan Specialist  360.528.5316 E-MAIL Leah

Let's Get Started

As a cannabis business, we know that you have already put in a lot of work to get to this point. We try to make our application process as easy as possible for you. In order to get started, please review the hyperlinked documents below, fill out the appropriate forms, and submit the following additional information:

  • $500 application fee
  • Driver’s License for each business owner and each account signer 
  • SSN for each individual to be on the account
  • Business License 
  • Tax ID number
  • Municipality License (If Applicable)
  • Account Application Form (complete this form)
  • Account Agreement Form (complete this form)
  • Release of Records from the Liquor and Cannabis Board (completed by each owner on the license)
 

For Your Review

In order to protect yourself, please be sure to request an encrypted email before sending any of this personal information via email. You may fax the information to us at 360-357-8573 (please call ahead so we know to look for the documents). You are also welcome to come into any of our branches with your packet to begin the process.

Let's Talk
For questions, or to speak to one of our Cannabis Business Specialists, please call 800-642-4014 and ask for the Cannabis Business Department. Or email us at LetsBeBuds@obee.com

   

18-Month Guardian CD Special

4.00% APY*

18-Month Guardian CD Special
New Money Required

*APY refers to Annual Percentage Yield. Federally insured by the NCUA. $25,000 minimum balance required to open. New money required, defined as funds not currently on deposit with O BEE CU unless deposited within the last 10 business days. APY is accurate as of March 15, 2023. Substantial penalty for withdrawal prior to certificate maturity. Fees could reduce earnings on the account. Refer to the O BEE Rate and Fee Schedule for details. Limited time offer subject to change without notice. Subject to membership eligibility and account opening requirements. This offer is redeemable at all locations.

*Annual Percentage Yield Rate Effective 03/01/2023.
 

See Account Disclosure for Details

CANNABIS BUSINESS MONEY MARKET

.20% APY*

$1,000 - $9,999.99

 

.80% APY*

$10,000 - $49,999.99

 

.90% APY*

$50,000 - $99,999.99

 

1.25% APY*

$100,000 - $249,999.99


1.50% APY*

$250,000+


*Annual Percentage Yield Rate Effective 03/01/2023. 

See Account Disclosure for Details

 
Cannabis Banking in Washington State Let's be Buds

Dream Home?
We offer home loans for cannabis industry owners and employees.

Cannabis Banking in Washington State Opportunity Cartoon