Navigating Safe Harbor by Sundie Seefried
Federal laws make it difficult for cannabis businesses to open checking or savings accounts in federally insured financial institutions. The result is an industry that has been forced to pay its bills, employees, suppliers, and taxes in cash. Enter Safe Harbor Private Banking. Concerned about the risks a cash-based industry poses to public safety, it plunged into cannabis banking determined to take money off the streets and to offer law-abiding businesses a port in a turbulent sea. Its experiences serving the cannabis industry offer a primer for other bankers considering a similar program and for policy makers and regulators eager to bring stability to a topsy-turvy marketplace.
Buy the must-read book for anyone interested in offering banking to the cannabis industry.
“A pioneering program for marijuana-related businesses in Colorado that is providing banking services to the industry while keeping our communities safer.”
— Congressman Ed Perlmutter
Available Now in eBook: $24.95
Marijuana Business Banking in 2017
BY NATASHA CHILINGERIAN | CREDIT UNION TIMES
JAN 31, 2017
In this online exclusive, Sundie Seefried, president/CEO for Partner Colorado Credit Union in Arvada, Colo., discusses why her credit union—which serves about 275 marijuana dispensaries, cultivators and product manufacturers—remains committed to serving the industry when its future remains uncertain.