One of legal marijuana's biggest hurdles will be discussed this morning as a federal judge considers a Colorado credit union's arguments for allowing marijuana banking services. Fourth Corner Credit Union
, which was "constructed from the ground up to serve the interests of the legalized cannabis and hemp industries and their supporters," according to its website, was set to open in early 2015 after receiving support from Governor John Hickenlooper. But the credit union has never opened, thanks to a rejection from the Federal Reserve's Kansas City Branch
when the FCCU applied for a master account to put money in the U.S. central banking system – something the fed says is out of bounds because of marijuana's federally illegal status. The FCCU sued the fed in July, requesting that the U.S. District Court in Colorado grant the bank a master account with the Federal Reserve.
Despite guidelines from federal banking regulators on how to accept money from legal marijuana, financial institutions have widely stayed away from pot businesses out of fear of federal racketeering charges. The FCCU received its charter from the state in 2014 and has been trying to gain approval from federal regulators ever since. The next step is today's hearing before U.S. District Judge R. Brooke Jackson, who has no deadline for issuing a decision.
And there's more on this week's Cannabis Calendar.
Want to ring in the New Year with one of Colorado's only social cannabis-consumption clubs? How about two of them? iBAKE is throwing its annual New Year's Weed Party on December 31 at both the Denver
locations for those who prefer bud over booze when the ball drops. The parties, which both start at 7 p.m., are offering tickets ranging from $41.99 to $103.49
(VIP tickets include a free eighth of flower). There will be hash and edibles available, but no cannabis products will be for sale, and attendees are encouraged to bring their own. 21+
Terrapin Care Station
on 33rd Avenue in Aurora offers free tours of its cultivation operation on Saturdays and Sundays from 1 to 4 p.m. Each four-person tour is first come, first served, and lasts about thirty minutes. After a short introductory video, guests will go on a walking tour through the growing facility, where they'll learn how Terrapin pot products are manufactured from seed to sale. For those of you hoping to take a selfie during the tour for your Instagram page, sorry — no photos allowed. Learn more at the Terrapin website
The Denver Kush Club
and Spangalang Brewery
are now hosting Vinyl Sundays — weekly parties dedicated to sharing the love of records, beer and ganja — at Spangalang. The Denver Kush Club will hand out free joint cards and merchandise while Spangalang forgets to charge full price for beers. Bring in some vinyl records to share and receive $1 off each beer. 21+
NORML's Colorado chapter will hold its monthly meeting
on current and future marijuana issues (both local and national) on Wednesday, January 6, at Grow Big Supply
. The meeting will run from 6 to 7:10 p.m.
Know of an event that should be in the Cannabis Calendar? Send it to [email protected]