RANTOUL, Ill.–Credit Union 1 has been selected to participate in the Illinois Department of Commerce and Economic Opportunity (DCEO) Cannabis Social Equity Loan Program.
The $30-million dollar fund will provide low-interest loans to social equity licenses within the State of Illinois, according to the $1.6-billion credit union.
Credit Union 1 noted it is also a preferred banking partner of The Chamber of Cannabis—a nonprofit organization designed to bring cannabis industry professionals together to build a more inclusive industry—and the New York CAURD Coalition—which invests in its members by ensuring access to resources in order to create a more sustainable and equitable industry.
Credit Union 1 offers a what it said is a “comprehensive line of banking products tailored for cannabis businesses” that it says is available nationally.
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