- Free application fee for Cannabis Retail Stores
- QUADs account fees start at a low $250.00 per month and for each additional retail location (processed through the same account) there is only an additional $100.002 charge per month.
- 160 Monthly transactions
- 30 free Interac Email Money E-transfers4
- Daily email transfers up to $10,000 (O.A.C.)
- Business credit card3
- Unlimited deposit insurance*
- Full-service, in-branch withdrawals, transfers, and deposits
- Exchange ATM withdrawals, transfers, and deposits
Everyday, Community Savings is helping 140+ cannabis accounts with accessible and affordable banking services. We are proud to be a pro-cannabusiness credit union that never stops advocating for the cannabis industry.
We'll keep your business rolling
Roll with 120+ retailers in the Community Savings cannabis family
The QUADS Account
- Low $250 monthly fee for chequing account
- Free application fee
- Business credit card3
- Daily email transfers up to $10,000 (O.A.C.)
For more on fees visit our Service Fee page.
We're getting recognized for our cannabis promotions!
Community Savings wins three national marketing awards for cannabis:
Canadian Marketing Association - Gold
Canadian Marketing Association - Silver
The Achievements in Marketing Excellence (AIME) Awards
Join the movement
We support and advocate for the cannabis industry. Learn more
Business credit card³
Manage your cash flow with Community Savings credit card3
Digital banking and access to 685 ATMs
Online banking, Merchant services, e-transfers. Make convenient cash deposits at over 685 Exchange ATMs Exchange ATMs throughout BC
Frequently Asked Questions
What are the features of the QUADS Account?
Eligibility for Cannabis Accounts requirements
- Limited to Canadian business/ownership.
- Business must be a member of Credit Union they are applying with.
- Proof of provincial license (distribution) and/or proof of federal license (production).
- Proof of due diligence/security validation by the credit union.
- A Personal Guarantor is preferred
Business Application requirements
· The business owner’s personal credit score & personal net worth are required. In some situations, business financials may also be requested.
What documents do I need to open the account?
The documentation varies on the ownership structure. A member of our team will be happy to walk you through the requirements for your company. As a general rule of thumb, the required documents include copies of the following:
- Municipal business licence
- Provincial cannabis retail licence and approval letter stating terms and conditions (or a conditional approval to begin the process of opening the account)
- Incorporation documents or partnership agreement (as applicable)
- Central shares registry for incorporated businesses, listing all beneficial owners
- 2 pieces of identification for all account signing officers, at least one of which is government issued photo identification
- The completed account opening application
- Signed consent form for each account signing authority
How easy is it to bank with Community Savings?
- Access to all in-branch services
- 24-7 access to online banking and the CSCU Mobile App (remote deposit capture, bill payments, transfers, etc.)
- The Exchange ATM network to make deposits. Over 685 BC ATMs can be located using the Exchange ATM Locator (verify the ATM accepts deposits by looking for the deposit icon
) - Chequing, savings, and investment services
- Interac Email Money Transfers4
- Merchant Services
- Payroll Services
I’m located outside of the Lower Mainland and Victoria, how do I open an account?
Community Savings has convenient online services for remote identification verification. Once identification has been authenticated, the full account opening process can be easily performed electronically.
When can I start using the account?
You can start operating your account when we have received and processed all required documentation.
We are here to work with you. For those of you who are in the early stages of the application or licensing process, we can provide some additional limited services to help your business get up and running. Please speak with a member of our team about your specific needs.
In the words of our members.
“I appreciate the fact that it did not cost me thousands of dollars to open an account! I would definitely recommend Community Savings to any Cannabis retail stores looking for a credit union to do their business banking.”
-Rose, B Buds. CA
Get in Touch
Let's Talk
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Terms and conditions
1 The account must have active usage and be in good standing after 6 months. Terms and conditions apply.
2 Fees may increase when Community Savings needs to offset operational cost associated with account activity or administration. Our team members will first look to provide alternate arrangements to offset costs rather than increasing fees. If a fee increase is necessary, changes will be discussed prior to the implementation of the new fee structure.
3 The application for the business credit card must be completed after the successful opening of a QUADs account and is subject to approval from Collabria Financial Services Inc. Eligibility requirements do apply. Credit cards are subject to annual fees. To learn more, Community Savings Credit Union - Business Cards.Collabria Financial Services Inc. (“Collabria”) is an independent entity from your credit union with no ownership interest in the other. If you choose to obtain Collabria credit card services through a referral from your credit union, it will receive compensation from Collabria. The Community Savings Credit Union Visa Card is issued by Collabria Financial Services Inc. pursuant to a license from Visa. Visa is a trademark of Visa Int. and is used under license.
4 $1.00 per e-transfer sent will be charged after the free limit of 30 e-transfers per month has been reached. e-transfers are not available for product sales.
5 The Community Savings Credit Union Visa Card is issued by Collabria Financial Services Inc. pursuant to a license from Visa. Visa is a trademark of Visa Int. and is used under license.
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