For nearly a century, Union Bank—a proudly independent bank with roots deep in west and central Michigan’s soil—has been the preferred bank of agricultural businesses across the state. Through thick and thin, Union Bank has stood alongside generations of farmers and their partners to ensure they are equipped with the financial tools they need to be successful. Its commitment and loyalty to the makers, builders, and growers in this state is as strong as steel.
It only made sense that the bank, with a longtime dedication to agricultural businesses, would have an active interest in the burgeoning cannabis industry currently growing across the Great Lakes State. As an active community member, the bank quickly recognized Cannabis Related Business (CRB) as another sector of industry in 2019. It made the decision to be a trusted partner to help and provide guidance in a way that could significantly impact the industry’s success. The bank’s full slate of cannabis banking services offers business owners the ability to safely secure their funds and pay vendors in a timely manner without the worry of violating legal standards.
Championed by Edith Farrell, Vice President of Cannabis and Specialized Services, the Bank is entering its fourth year of servicing the industry. “Small businesses are my passion, and I want them to succeed,” says Farrell. “We consider our clients to be business partners, and it is my job to ensure they are equipped with the tools they need to operate just like every other business in Michigan. It’s very gratifying to watch a cannabis owner build out a location, receive a license, and, finally, generate revenue.”
Union Bank offers armored courier services to transport and deposit cash, a full suite of payment options (online, checking, and ACH), and dedicated CRB representatives for exceptional service. Plus, it has a virtual branch to eliminate distance barriers for business owners across the state who need to speak with a bank representative via video chat to manage accounts and transact business. The onboarding process is fast and efficient, and compliance is the number-one priority. The bank and its employees genuinely are grounded in loyalty