[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-article-u-s-eagle-federal-credit-union-to-close-cannabis-banking-arm-aery-group-0b06fb34":3},{"data":4},{"_id":5,"slug":6,"articleType":7,"body":8,"createdAt":13,"dek":14,"entities":15,"headline":24,"imageAlt":25,"imageUrl":26,"keyFacts":27,"language":41,"publishedAt":42,"seo":43,"sources":46,"summary":51,"updatedAt":52},"6a9099f0aeddfad21a39f9e1","u-s-eagle-federal-credit-union-to-close-cannabis-banking-arm-aery-group-0b06fb34","finance",[9,10,11,12],"The Albuquerque, New Mexico-based U.S. Eagle Federal Credit Union announced last week that it will close its cannabis banking arm, Aery Group, effective November 1, according to the Albuquerque Journal. The unit launched in 2019 and was among the first New Mexico financial institutions to serve the state's cannabis businesses.","The credit union attributed the shutdown to increased competition among financial services providers as the cannabis industry has grown. Damien Padilla, owner of consulting firm Cannabis Driven Management, told the Journal that at least 19 financial services providers in New Mexico now work with cannabis businesses.","Michael Moore, president and CEO of U.S. Eagle, told the Journal that servicing the cannabis industry is not part of the company's long-term strategy. He said growing the service was difficult without going out of state or into other markets.","Moore left the door open for a potential future return to cannabis banking, saying the credit union is not trying to shut the door permanently. He described the decision as a \"time-will-tell approach\" rather than a definitive no.","2026-08-27T20:11:28.016Z","The Albuquerque credit union says increased competition among financial services providers is behind the shutdown of its cannabis-focused unit, effective November 1.",{"brands":16,"products":18,"markets":19,"organizations":21},[17],"Aery Group",[],[20],"New Mexico",[22,23],"U.S. Eagle Federal Credit Union","Cannabis Driven Management","U.S. Eagle Federal Credit Union to Close Cannabis Banking Arm Aery Group","Exterior of U.S. Eagle Federal Credit Union in Albuquerque, New Mexico","",[28,32,35,38],{"claim":29,"sourceUrl":30,"_id":31},"U.S. Eagle Federal Credit Union announced it will close its cannabis banking arm, Aery Group, effective November 1.","https:\u002F\u002Fganjapreneur.com\u002Fnew-mexico-credit-union-to-close-cannabis-banking-arm\u002F","6a9099f0e81f0249cd72d8f0",{"claim":33,"sourceUrl":30,"_id":34},"The closure is due to increased competition among financial services providers as the cannabis industry has grown.","6a9099f0e81f0249cd72d8f1",{"claim":36,"sourceUrl":30,"_id":37},"At least 19 financial services providers in New Mexico are now working with cannabis businesses.","6a9099f0e81f0249cd72d8f2",{"claim":39,"sourceUrl":30,"_id":40},"U.S. Eagle president and CEO Michael Moore said servicing cannabis is not part of the company's long-term strategy and that growing the service was difficult without going out of state or into other markets.","6a9099f0e81f0249cd72d8f3","en","2026-08-28T05:26:14.544Z",{"title":44,"description":45},"U.S. Eagle Credit Union to Close Cannabis Banking Arm","U.S. Eagle Federal Credit Union will close its cannabis banking arm, Aery Group, on November 1, citing increased competition in New Mexico.",[47],{"name":48,"url":30,"trustTier":49,"_id":50},"Ganjapreneur","trade","6a9099f0e81f0249cd72d8ef","U.S. Eagle Federal Credit Union in Albuquerque will close its cannabis banking arm, Aery Group, on November 1. The credit union cited increased competition among the 19-plus financial services providers now serving New Mexico cannabis businesses. President and CEO Michael Moore said servicing cannabis is not part of the company's long-term strategy, but did not rule out a return.","2026-08-28T05:26:14.704Z"]