Pot industry hopes credit union will lead to legitimacy

SAN FRANCISCO (KGO) -- This month the medical marijuana industry could take another step toward legitimacy establishing a credit union for pot shops may receive federal approval.

A group of attorneys, business owners and legalization advocates formed the Fourth Corner Credit Union.

If approved, the credit union will make doing business easier for legal pot shops.

Many banks consider them too dangerous to service, so many shops operate only in cash.

That can be expensive, time consuming and dangerous for employees and customers.

The credit union will be based in Colorado.

But its approval could lead to less risky banking conditions for medical marijuana shops across the nation.