Main Street Bank Teams Up With GCV To Expand Its Cannabis Banking Program In Massachusetts

Green Check Verified, a fintech connector and technology and insights provider in the emerging cannabis market, entered into partnership with Main Street Bank, a locally run, independent mutual savings institution serving communities in Massachusetts. The partnership is empowering Main Street Bank to expand its cannabis banking program while dropping its cannabis account service charge to $0.

“From a scalability standpoint, and from a compliance and cost standpoint, GCV cannot be beat,” stated Ellen Dorian, president and chief operating officer of Main Street Bank. “By partnering with GCV, Main Street can better focus on our true mission — providing customer-focused, innovative products and services while working directly with our cannabis clients and helping them grow. By removing account service charge fees, we are excited to make our program more accessible and add better value to the cannabis businesses in our community.”

Main Street Bank began offering cannabis banking services in 2019 to help meet the growing demand from local businesses and cannabis operators to safely and securely manage their funds. The partnership with GCV is empowering Main Street Bank to scale its cannabis banking services, ensure compliance, and offload various manual tasks that can zap efficiency and hamper growth – including performing in-house background checks, vetting deposits and tracking monthly sales.

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Photo: Benzinga edit with photo by Kindel Media on Pexels