Ops Update - Business Account Notice and Marijuana Related Activity

As many of you are aware, we have had a significant increase in marijuana related businesses inquire about opening a business account in the last several months.  You may also know that we are unable to service these accounts due to their risk and the fact that our NCUSIF insurance coverage does not allow us to serve marijuana related businesses.

We have noticed an increased effort to deceive us during the account opening process as to the focus of the prospective business as well as business names that sound harmless.  As a result, we really need to have our radar up and evaluate every single business account request with some skepticism in mind.  Please use the attached questionnaire for ALL new business accounts requests as the first line of defense.  If at all possible we want to avoid the opening of accounts only to close them later if we conclude they are in a marijuana related business.

If we do find that an account is being used for MRA, let me know the circumstances and I will authorize closure of the account by way of the attached letter.  Let me know if you have any questions and thanks for keeping your radar up.

Click link below and go to the business account category. 

http://oregonians/_layouts/15/start.aspx#/Shared%20Documents/Forms/AllItems.aspx