Highlights;
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SHF Holdings Inc. (Safe Harbor Financial) launched the Fully Managed Cannabis Banking Program, the first complete operational and compliance outsourcing solution for financial institutions serving the cannabis industry.
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The program handles client acquisition, onboarding, compliance, and support, allowing banks and credit unions to avoid internal risks and overhead.
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Key features include sticky deposit growth, complete operational outsourcing, reputational protection, and improved efficiency.
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Targets financial institutions seeking to serve the cannabis market without added risk, staffing, or reputational concerns.
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CEO Terry Mendez emphasized the program’s scalability and proven compliance model, addressing regulatory ambiguity in cannabis banking.
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Safe Harbor has processed over $26 billion in cannabis-related deposits across 41 U.S. states and territories since 2015.
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The program offers a seamless exit strategy for institutions exiting cannabis banking operations.
Safe Harbor Financial Launches Innovative Fully Managed Cannabis Banking Program
Safe Harbor Financial, a fintech leader in the cannabis industry, announces the launch of its groundbreaking Fully Managed Cannabis Banking Program. This program is designed to empower financial institutions like community banks and credit unions to serve the legal cannabis market without the associated risks, overhead, and staffing challenges.
Addressing Industry Needs
The program is a turnkey solution that handles 100% of operations, allowing financial institutions to benefit from cannabis-related deposits without direct involvement. This approach is the first of its kind, making Safe Harbor a pioneer in this space.
Key Features of the Program:
- Sticky Deposit Growth: Safe Harbor manages the acquisition and onboarding of licensed cannabis operators, with deposits held securely by partner institutions.
- Complete Operational Outsourcing: From compliance to customer service, Safe Harbor handles all aspects, ensuring smooth operations.
- Reputational Shield: The program operates under Safe Harbor’s brand, protecting financial institutions from cannabis-related reputational risks.
- Improved Efficiency: Minimizes startup costs and operational overhead, enhancing profitability for all parties.
Leadership Insights
CEO Terry Mendez, speaking at the PBC Conference 2025, emphasized the program’s role in providing a compliant and scalable solution. “Our program offers a proven path for growth, allowing institutions to tap into the cannabis market without additional burden,” Mendez stated.
Kimberly Seefried, VP, highlighted the program’s value: “We eliminate barriers, enabling institutions to benefit from cannabis deposits while we handle all operations.”
Proven Track Record
Since 2015, Safe Harbor has processed over $26 billion in cannabis-related deposits across 41 U.S. states, showcasing their expertise and stability. The program also offers a seamless exit strategy for institutions exiting cannabis banking, ensuring uninterrupted service.
Safe Harbor Financial’s Fully Managed Cannabis Banking Program stands as a testament to their commitment to innovative, efficient solutions, making it easier for financial institutions to thrive in the cannabis sector.
