If not for a quirky bit of law passed by Colorado legislators 33 years ago, during the dawn of the savings and loan crisis, the world's first credit union for the marijuana industry would not have been a possibility so soon.
Discovered by organizers of the Fourth Corner Credit Union soon after a morale-dropping phone call with federal regulators, the law appears to allow a credit union to open for business — perhaps as soon as Jan. 1 — while awaiting approval of required federal insurance.
Overlooked Colorado law opened door to pot credit union charter - The Denver Post
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