We want to do our part to support community banks and credit unions as they support main street economies. We’re sharing our best advice, resources and tips for banking cannabis to help you reach your goals, no matter how big or small.
We will be frequently updating this page with the latest educational resources and practical tools that you can use when talking about cannabis banking with your team, your Board, and your local cannabis businesses.
To be part of the solution, your institution needs to maintain a strong capital position, high liquidity, and preserve its agility to respond quickly to business conditions.
Given these variables, banking cannabis businesses is a logical answer toward solving your deposits dilemma. The global pandemic shines a spotlight on why cannabis banking may be part of your FI’s own economic recovery.
• You need new deposits to provide liquidity
• You will need liquidity to support your FI and help your community recover
• You will need to act quickly to gather these deposits before your competitors do
What this means →
Regardless of where you are in your journey, the size of your institution, or how quickly you’re ready to make changes, we will help you find the right approach.
With the right controls, policies and procedures, and oversight, you can build, launch and scale a compliant and sustainable cannabis banking program.
These are the basics:
• Plan, Plan, Plan, Then Execute
• Inventory Your Controls and Processes
• Train and Leverage Your Existing Resources
• Prepare for Change and be Ready to Adapt
Get the details →
Our sample cannabis banking policy can serve as a point of reference when drafting or reviewing your institution’s policy.