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Cannabis Banking Training: Learn How Your Credit Union Can Benefit

Fri, Sep 22, 2017

Join the Association and presenters Sundie Seefried, Matthew Cochran, and Geoff Bacino on September 27 from 10 am-2 pm.

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.

Concerned about the risks a cash-based industry poses to public safety, Safe Harbor plunged into cannabis banking determined to take money off the streets and to offer an alternative.

Safe Harbor’s experiences serving the cannabis industry offer a primer for other credit unions considering a similar program and for policy makers and regulators eager to bring stability to a topsy-turvy marketplace.

Partner Colorado President/CEO Sundie Seefried, who spearheaded the Safe Harbor Private Banking program, will co-lead this training to support your credit union’s launch of its own cannabis banking program.

The Arcada, Colo.-based Partner Colorado credit union has $340 million in assets and 31,000 members. It now banks $80 million monthly from Colorado’s cannabis businesses through the Safe Harbor program. Praised by regulators, industry leaders and legislators, including Rep. Ed Perlmutter (D-CO) as a “pioneering banking program for the marijuana industry,” Safe Harbor has deposited, validated, reported and monitored over $1 billion from Colorado’s cannabis industry. 

This half-day session will focus on how your credit union can benefit by serving cannabis businesses and what your credit union needs to do to launch a cannabis program. The training will also include how to successfully manage compliance.

Session Agenda
9:30 am to 10:00 am - Signing in, networking, light breakfast
10:00 am to 2:00 pm - Training (Lunch is Provided)

Who Should Attend
Compliance Professionals, Managers, CEOs, COOs, Board of Directors

About Your Speakers 

Sundie Seefried is CEO and president of Partner Colorado Credit Union located in Denver, Colorado. She has served in the credit union industry since 1983 and as CEO since 2001. She holds a bachelor’s in business management from the University of Maryland and an MBA in finance from Regis University. At Partner Colorado, Seefried has focused on establishing a culture of service and sales excellence. Under her leadership, and with the support of the board and the staff, Partner Colorado was named to a top-10 list of Best Places to Work in Denver for eight consecutive years, from 2005 to 2012. 

Matthew Cochran is a business and product development executive with more than 20 years of credit union and community bank experience.

Geoff Bacino is a two-time Presidential appointee having been nominated by President Bill Clinton to serve on the National Credit Union Administration board and by President George W. Bush to be a member of the Federal Housing Finance Board.  During his tenure at NCUA, the Board reduced expenses, expanded credit union and CUSO powers and repealed the Community Action Plan.  While at the Federal Housing Finance Board, the agency oversaw over $1 trillion in mortgages and housing finance.

Session Fees
$180 for credit unions with >$50M in assets
$90 for credit unions with <$50M in assets
$45 for credit unions with <$10M in assets

Registration is open here.

Tuition Reimbursement
Maryland and D.C.-based credit unions with up to $150 million in assets may be eligible for up to 75% educational reimbursement from the Credit Union Foundation of MD & DC.