Salal Credit Union

News & Updates

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Cannabis Business Banking: Building Stronger Communities Together

What You’ll Learn 

  • Discover the many ways that Salal cannabis business banking members are helping build stronger, healthier, and more sustainable communities.

As someone who owns or operates a business in the cannabis industry, the benefits of having access to banking services are probably pretty obvious. From improved cash management to better safety for your staff, it’s much easier to run your business when you have a bank account—and a banking partner who has your back. But here’s something you might not consider as often. When a cannabis business does its banking with a credit union like Salal, it doesn’t just benefit your business, it benefits your entire community.

The credit union movement is built upon the principle of “people helping people.” At Salal, we believe that when people work together, they can accomplish far more than we could by ourselves as individuals. There’s “Power in Together,” as we like to say. As a business, when you do your banking with a credit union, you are helping support positive action towards building stronger, healthier, and more sustainable communities. Here’s a look at some of the good things Salal business members have helped make happen just in the last year.

Serving the Needs of High-Risk Patients

Thanks to Salal members, in 2022 we were able to donate over $46,000 to the HealthPoint Community Connection Fund. The fund helps the HealthPoint team better serve high-risk patients who have substantial needs and unique gaps in care.

Scholarships and Grants for Nurses

We continued our tradition of support for the King County Nurses Association by providing $34,000 for scholarships and a special program. This program lets nurses use the funds to help their patients directly. One project even offered seasonal flu shots for new parents and family members who had close contact with infants.

Addressing Housing Insecurity in Our Neighborhoods

Salal and the Salal Foundation provided support for Rebuilding Together and “She Builds,” a program focused on advancing the housing and community issues affecting women. Salal’s support this past year included seven capacity-building support grants of $10,000 to launch or expand existing She Builds program. Critical home repairs were funded in Connecticut, California, Tennessee, Colorado, Texas, and Washington.

Expanding Equitable Access to Solar Energy

Salal’s support for renewable energy last year included donating over $30,000 to GRID Alternatives. GRID works to build community-powered solutions to advance economic and environmental justice through renewable energy. Salal’s support helped fund four job training programs in the solar industry, particularly focusing on women, people of color, and those affected by the criminal justice system.

A New Community Center for an Underserved Community

We donated $15,000 to support the building of the Renton Family First Community Center. The new community center will bring quality recreation, education, and wellness programs to the historically underserved communities in Renton’s Benson Hill and Cascade neighborhoods.

Visit our Community Impact page to learn more about the difference Salal members are making every day.

Ready to Make Your Business Banking Make a Difference?

From business checking and savings to cash management solutions to equipment and commercial real estate loans, Salal Business Services takes pride in helping cannabis businesses thrive. If your cannabis business is ready to take the next step toward opening a bank account, we’re here to help. We’re always happy to share more info about the application process, go over the services we offer, and help you start your application. Connect with a Salal Business Banking Officer at 206.298.9398 or BusinessInquiries@SalalCU.org.