Mountain State selects financial institution to handle medical cannabis funds

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December 25 2021 12:00 am

CHARLESTON, W.Va. (WTRF) — West Virginia continues to take the necessary steps in making medical marijuana available to the public.

Element Federal Credit Union was announced as the financial institution selected to handle the state’s medical cannabis banking needs.

The credit union was selected out of four bidders for the Mountain State’s business.

Next up for the state is to start accepting bids from potential marijuana growers, processors and dispensary owners.

Nevertheless, the goal remains 2020.

I’ve got confidence that the state is going to do everything that they can, to move this as fast as possible. And I think you’ll be able to buy medical cannabis in the calendar year 2020.

Michael Haid, prospective medical cannabis bidder

We really need to pick up the pace. Unfortunately there are a lot of sick and suffering people out here, that could benefit from medical cannabis.

Del. Mike Pushkin, (D) Kanawha

The three financial institutions who lost out on the bidding will have one week to file a protest or appeal the decision.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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