Skip to main content

    We’ll keep your business rolling

    Apply Now

    Let’s be blunt -

    Community Savings is the go to credit union for your cannabis business banking.


    Community Savings is one of the main bankers for BC’s private cannabis retailers and we get the challenges that face the industry. We understand the difficulties faced and we proudly offer banking services and solutions to take your business to a new high.

     

    We Deliver

    We know what you really crave is a partner that understands your business

     

     

    RollingPaperMockup_v2_closeup-03_1-removebg-preview.png

    The QUADS Account

    • Low $250 monthly fee
    • $150 application fee (Refunded after 6 months1)
    • Line of Credit available O.A.C
    handshake-alt.svg

    Join the movement

    We support and advocate for the cannabis industry. Learn more

    mobile.svg

    Full digital banking services

    Online banking, Business VISA, Merchant services, Interac Electronic Money Transfers*

    search-location.svg

    Access at 685 ATMs

    Make convenient cash deposits at over 685 Exchange ATMs throughout BC

     

    Frequently Asked Questions

     

     

    • Our low application fee for Cannabis Retail Stores is only $150.00  No, we did not miss a zero.
    • For a limited time offer for new accounts, CSCU will refund the $150 fee after 6 months1
    • QUADs account fees start at a low $250.00 per month and for each additional retail location (processed through the same account) there is only an additional $100.002 charge per month.
      • 160 Monthly transactions
      • Interac Email Money E-transfers4
      • Free electronic statements
      • Unlimited deposit insurance*
      • Full-service, in-branch withdrawals, transfers, and deposits
      • Exchange ATM withdrawals, transfers, and deposits

    The documentation varies on the ownership structure. A member of our team will be happy to walk you through the requirements for your company.  As a general rule of thumb, the required documents include copies of the following:

    • Municipal business licence
    • Provincial cannabis retail licence and approval letter stating terms and conditions (or a conditional approval to begin the process of opening the account)
    • Incorporation documents or partnership agreement (as applicable)
    • Central shares registry for incorporated businesses, listing all beneficial owners
    • 2 pieces of identification for all account signing officers, at least one of which is government issued photo identification
    • The completed account opening application
    • Signed consent form for each account signing authority
    • Access to all in-branch services
    • 24-7 access to online banking and the CSCU Mobile App (remote deposit capture, bill payments, transfers, etc.)
    • The Exchange ATM network to make deposits. Over 685 BC ATMs can be located using the Exchange ATM Locator (verify the ATM accepts deposits by looking for the deposit icon ​ )
    • Chequing, savings, and investment services
    • Collabria Business Visa3
    • Interac Email Money Transfers4
    • Merchant Services
    • Payroll Services

    Community Savings has convenient online services for remote identification verification. Once identification has been authenticated, the full account opening process can be easily performed electronically.

    You can start operating your account when we have received and processed all required documentation.

    We are here to work with you. For those of you who are in the early stages of the application or licensing process, we can provide some additional limited services to help your business get up and running. Please speak with a member of our team about your specific needs.

     

    In the words of our members.

     

    “I appreciate the fact that it did not cost me thousands of dollars to open an account! I would definitely recommend Community Savings to any Cannabis retail stores looking for a credit union to do their business banking.”

    -Rose, B Buds. CA

     

    Get in Touch

     

    phone-square-alt.svg

    Let's Talk

    604-637-5123

     

    Terms and conditions

    1 The account must have active usage and be in good standing after 6 months. Terms and conditions apply.

    2 Fees may increase when Community Savings needs to offset operational cost associated with account activity or administration. Our team members will first look to provide alternate arrangements to offset costs rather than increasing fees. If a fee increase is necessary, changes will be discussed prior to the implementation of the new fee structure.

    3 Subject to Collabria’s approval requirements

    4 Email Money Transfers are not permitted to be used for product sales. International transfers related to Cannabis retail activities are currently not permitted.