Conceived in 2015 with a simple but ambitious goal, Safe Harbor Financial set out to save the nascent cannabis industry from the clutches of an underbanking crisis. Due to federal prohibition, cannabis-related businesses (CRBs) cannot open accounts or use services with any major financial institution (because of excess paperwork or prosecution fears).
Only specialized financial institutions, like Safe Harbor, opened their doors to CRBs, providing a much-needed lifeline for the fast-growing industry.
We’ve spent the past seven years developing a range of services best suited to the cannabis industry’s needs, including checking and savings accounts, online banking, consumer payments, electronic tax payments, direct deposit payroll, and more. Small wonder that we’ve earned a reputation for regulatory excellence and personalized banking.
We’ve been busy. Operating across 20 states, processing more than $12 billion in cannabis-related funds, and supporting nearly 600 accounts have ensured we’re ready to take more businesses to the next level. Our lessons and guidance were instrumental in guiding Colorado’s fledgling cannabis industry. Now, we’re applying our experience to marijuana and hemp banking in Cedar Rapids.
Let our team advise and support your CRB – join the Safe Harbor Financial family today.