Recreational and medical marijuana businesses in Massachusetts can look forward to having access to banking services after a credit union announced it is willing to serve them.

The GFA Federal Credit Union, a state-chartered credit union with $500 million in assets, will begin accepting marijuana clients by Oct. 1, offering basic services that include cash management, checking accounts, payroll, wire transfers and bill payments, The Boston Globe reported.

As of February 2018, less than 4% of the nation’s banks and credit unions served state-legal marijuana businesses because of fears federal regulators could potentially take away financial institutions’ licenses for serving businesses…

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