Cannabis Social Equity Loan Program

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Credit Union 1 | IL Dept. of Commerce & Economic Opportunity Logo Lockup



Cannabis Social Equity Loan Program Partnership
 

Credit Union 1 (CU1) has been selected to participate in the Illinois Department of Commerce and Economic Opportunity (DCEO) Cannabis Social Equity Loan Program.

This $34 million dollar fund will provide low-interest loans to social equity licensees within the State of Illinois.

Credit Union 1 and the DCEO share the common goal of promoting the equitable growth of the Illinois cannabis industry by ensuring the availability of flexible and low-cost financing to licensed cannabis business establishments in Illinois.


CU1 is the ONLY lender that provides banking services in addition to Cannabis Social Equity Loans

 

  • Start by submitting your loan application to DCEO 
  • After you receive your DCEO approval from the State — be prepared to answer these questions. >> Cannabis SEL Applicant Questions  You will be contacted by our CU1 team member:
    Brendan Healy, VP Commercial and Consumer Business Development
    800.252.6950 x7229
    Direct 312.283.0706
    [email protected]
  • Approvals can be obtained in as little as 48 hours once all loan application documents are provided
  • Flexible term up to 5 years
  • No prepayment penalties

 

WEED love to bank your business

CU1 will help GROW your Cannabis Business with a full array of Banking Solutions that include:

Cannabis & Ancillary 1 Program
Ancillary 2 Program
YesMRB Savings YesMRB Savings
YesPlus Access Checking YesPrime Access Checking
YesPremier Access Checking YesMRB Premier Money Market
YesPremium Access Checking YesMRB Premium Money Market
YesEscrow Accounts YesMRB Share Certificates (CD)
YesMRB Premier Money Market  
YesMRB Premium Money Market  
YesMRB Share Certificates (CD)  

Extended Services

Armored Car iconCash Pickup Services Debit Card IconVisa® Debit Card1
Computer iconPayroll Services Branch IconCU1 Branch Access
ATM at store iconFree ATM and ATM Funding
Cashless ATM Services
ATM icon30,000+ Surcharge-Free ATM access
Laptop Mobile Phone IconFree Digital Banking
with Mobile Deposit2 & Bill Pay
Laptop Mobile Phone IconFree Digital Banking
with Mobile Deposit2 & Bill Pay
Mobile Phone iconFree eStatements Mobile PhoneFree eStatements

 

Your employees are eligible for CU1 personal accounts with access to our innovative financial solutions.

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