At Central Willamette Credit Union, we recognize the unique financial needs of the burgeoning cannabis industry in Oregon. We're excited to introduce dedicated banking services tailored specifically for cannabis-related businesses. Our commitment is to provide reliable, compliant, and secure financial solutions to help your business flourish in this dynamic sector.
Account Deposits:
- Check Deposits: Check deposits are not accepted via drop safes. Check deposits may be made
using the night-drop box, mobile deposit, ATM or in-person at each of our branch locations.
Remote deposit capture is also available to our business clients, please contact CW Business
Services for more information. - Cash Deposits: Cash deposits to Cannabis Related Accounts will not be accepted by credit union staff. Cash deposits must be prepared appropriately and deposited using a drop safe at one of the specified Central Willamette locations.
- Coin Deposits: Coin not to exceed $5.00 may be included with an appropriately prepared
deposit using the drop safe. Rolled coin may be presented in a branch location for deposit. Coin
counters are available at many of our branch locations, contact for availability. - Adjustments: All deposits are final. The Credit Union will not be liable if: through no fault of the
Credit Union, your deposit does not contain enough currency to make the transaction as
described. Please ensure you are securing deposits and preparing them properly. The Credit
Union will work closely with the processor to review any deposit adjustments made. - Counterfeit Currency: In the event your deposit contains currency determined to be
counterfeit, it will be adjusted from your deposit, forwarded to appropriate law enforcement,
and you will be notified. In the event law enforcement determines the currency was in fact valid, your account will be credited.
Preparing Drop Safe Deposits:
Improperly prepared safe drop deposits may delay processing time and the availability of
funds. Please follow the instructions outlined below to ensure timely processing.
-
Deposit Bags: Deposits must be contained in a sealed, tamper-resistant bag with a barcode. We
recommend that members record the applicable barcode number with their deposit records.
Please ensure the business name is printed on the outside of the bag. -
Deposit Slips: A deposit slip must be included with each deposit. Deposits must be legible and
clearly state the total amount of the deposit, a breakdown of denominations included, the
business name and your CW account number. If you have multiple individuals preparing
deposits, we recommend you record (initial, etc) who is preparing the deposit slip. If you do not
have preprinted deposit slips available, use our generic form. -
Packaging Cash: Please package cash for deposit so that it is clean, flat, and organized by
denomination. Do not roll, wad, or fold cash. Cash does not need to be “strapped” or contain a
specific number of bills. If using bands, clips, etc to organize cash, remove them before placing in
the bag or ensure that they are easily removed during process. Cash must be clean and dry, no
moisture, mold or mildew will be accepted. -
Packaging Coin: If including coin (less than $5.00) in a drop safe deposit, please place coin in a
plastic sandwich bag, envelope, etc rather than loose with the cash.
Locations & Availablility:
Safe Drop Deposit
DAILY PROCESSING*:
Wavery Branch
645 Waverly Dr. Albany, OR 97322
Lobby Hours: Mon-Fri 9:00am-6:00pm Sat 9:00am-1:00pm
Deposits made to the safe drop will be made available to you no later than the end of the 2nd
business day. For example, deposit placed in the drop on or before 6:00pm on Monday will be
available no later than 6:00pm on Wednesday.
WEEKLY PROCESSING*:
South Salem Branch
4093 Commercial St. SE Suite 110 Salem, OR 97302
Lobby Hours: Mon-Fri 9:00am-6:00pm Sat 9:00am-1:00pm
Deposits are processed once a week at the South Salem location. Deposits made to the safe drop
before end of business on Wednesday will be credited no later than end of business on the 2nd
business day.
Newport Branch
150 NE 20th St. Newport, OR 97365
Lobby Hours: Mon-Fri 9:00am-6:00pm Sat 9:00am-1:00pm
Deposits are processed once a week at the Newport location. Deposits made to the safe drop
before end of business on Saturday will be credited no later than end of business on the 2nd
business day.
* Credit Union Holidays may alter processing times.
Safety and Security:
For the safety of our staff, all CW members and you, please conceal cash deposits and change
orders in appropriate containers when entering or leaving our facilities. Central Willamette
employees are not permitted to assist with transporting cash and currency in or out of branch
locations. Click here to view our Cash Safety Guidelines for Cannabis Business Banking.
If you would like to talk more about our cannabis services, call or text us – ask for Business Services. We will be happy to talk to you about your needs and how we can exceed your expectations as a business services partner.