"The Entrepreneur always searches for change, responds to it, and exploits it as an opportunity." - Peter Drucker, philosopher of modern business.
Many businesses and municipality are taking the "wait and see" approach to recreational marihuana in Michigan. Some decided to start reaping the benefits now.
Live Life is a Credit Union that decided to take the latter approach. From Crains:
Live Life is thriving in the margins with 100 cannabis-related accounts out of its 1,400 member credit union. But capitalizing on cannabis isn't easy. The institution is buried in the burden of compliance as it walks the fine line between lending and laundering.
"It's been an adventure," Haglund said in the back office of her strip-mall credit union. "The reporting is strenuous and complicated. It's been hard on our staff. A few of us have basically been working around the clock for the last eight months, but it's been worth it."
Good for them. If you want to take advantage before opportunity passes you by, sign up for one of our Friday Seminars where you can learn about marihuana law in Michigan and ask our attorneys specific questions.