Cannabis Business Banking

Secure, Local Banking Solutions for the Growing Cannabis Industry

As Long Island’s cannabis industry continues to expand, Suffolk Credit Union proudly stands as a trusted partner to both direct and indirect cannabis-related businesses. Whether you're opening a dispensary, growing operation, or supporting the industry through ancillary services, our cannabis-friendly financial solutions are built to support your business from the ground up.

Who We Serve

  • Direct Cannabis-Related Businesses: Cultivators, processors, dispensaries, distributors
  • Indirect Cannabis-Related Businesses: Equipment suppliers, consultants, marketing firms, landlords, and service providers who support licensed cannabis companies.
We also assist employees in the cannabis space who may have trouble getting paid or maintaining personal accounts due to employer affiliations. 

Products & Services

  • Business Checking & Savings 
  • Online and Mobile Banking with Real-Time Access
  • Dividend earning Money Market Account
  • Business Debit Cards and eStatements 
  • Domestic Wire Transfers 
  • Dedicated Cannabis Banking Specialists 

Compliance You Can Count On 

Cannabis banking is heavily regulated, and we take that responsibility seriously. Suffolk CU stays proactive and transparent in navigating all applicable laws—including the Bank Secrecy Act and federal guidelines. We maintain ongoing communication with members to ensure full compliance and mutual understanding. 

What to Expect When Opening a Cannabis Business Account 

Opening an account for a cannabis business takes more time than a typical business account. We recommend starting the process as early as possible—even before your doors open. 

Be prepared with: 

  • Valid Government-Issued ID (for account holders) 
  • Beneficial Ownership Documentation 
  • Business Formation Paperwork (e.g., Articles of Incorporation, business plan) 
  • Operational and Financial Plans 
  • Current New York State Cannabis License(s)