Lüt partners with Frankenmuth Credit Union

Lüt has partnered with Frankenmuth Credit Union to offer a closed-loop digital payment platform for licensed cannabis businesses in Michigan.

Through the Envy cannabis banking program, operators can accept in-store payments outside traditional card networks, enabling real-time settlement, reducing cash handling, and supporting customer rewards, with plans to expand adoption and promote the service at the point of sale.

“As cannabis businesses scale and regulatory scrutiny increases, the need for dependable, purpose-built payment infrastructure has never been greater. Partnering with Frankenmuth Credit Union allows us to deliver a solution that financial institutions can stand behind and that business owners and consumers can rely on every day.” – Mike Andrud, CEO of Lüt.

“Cannabis businesses are operating in an environment that demands both innovation and discipline. This partnership allows us to support our cannabis business members with a modern payment option that improves the customer experience while aligning with the regulatory expectations we take seriously as a member-owned credit union.” – Vickie Schmitzer, CEO of Frankenmuth Credit Union.