Banking Cannabis: What You Need to Know at America’s First
Credit Union Cannabiz Conference
Experts, including Sundie Seefried from Safe Harbor in Colorado, will explain how to bank cannabis funds at the CUCC, the first national conference dedicated to helping you understand cannabis-related banking. Registration is now open.
Chicago, Ill. March. 3, 2020 –The Credit Union Cannabiz Conference will demystify how credit unions can bank money from marijuana-related businesses on April 5-8 at the Palmer House Hilton in Chicago. Registration is now open.
Speakers such as Sundie Seefried, CEO of Partner Credit Union and chairman of Safe Harbor Private Banking, will explain what it takes to get into the business of banking cannabis funds, and experts such as Gov. Gary Johnson will give a national perspective on the industry and what it needs.
The CUCC will be America’s first comprehensive discussion concerning cannabis banking services and the role of credit unions in serving this emerging industry, its employees and the community. Negotiating the rigorous compliance requirements is a big first step, but dealing with the needs of cannabis business accounts, creating an aligned strategy and managing communication and reputational risk is critical to success. Providing safe, compliant and secure processes together with core system support for business banking are required deliverables in this new service. Learn strategies for success and drawbacks of failed planning from leading business and industry experts.
“There is tremendous opportunity, and tremendous risk, involved in banking cannabis funds. We realize that this is a new frontier that requires in-depth knowledge of cannabis-related businesses, of compliance and federal regulations,” said Amy Vigil, Executive Director of the CUCC. “We aim to demystify how credit unions can serve this growing business.”
At the CUCC, credit unions will learn:
- Learn what cannabis business owners want.
- Are you ready to open business accounts, does your core system support your plan?
- What do regulators look for in a model compliance program?
- Best practice strategy.
- Is your Board aware of the risks and the reason for entering the business?
- How to communicate with employees, members, regulators and the community.
- Managing reputational risk.
So far 37 states have legalized cannabis either medically or recreationally. However, it remains a Schedule 1 drug federally, making it difficult for credit unions and payment processors to accept the funds. Cannabis dispensaries are forced to handle thousands of dollars in cash, often paying their vendors and suppliers in cash. By helping these legal businesses learn to bank CRB funds, we hope to create a safer working environment for those in the CRB world.
Today, there are a number of measures that could help the industry grow, such as the federal S.A.F.E. act, and numerous ballot and political initiatives across the country.
What: The National Credit Union Cannabiz Conference
When: April 5-8, 2020
Where: Palmer House Hilton Hotel in Chicago, Illinois
Cost: Conference registration fees:
$989 Regular – February 15 – March 27th
$1089 Late Registration – March 28th to April 3rd
Some of our speakers include:
Sundie Seefried, Keynote Speaker
Seefried developed Safe Harbor Private Banking for CRBs, and is the CEO of Partner Colorado Credit Union. She regularly provides cannabis banking education to legislators, regulators, attorney’s generals, state officials and financial institutions and has established herself as an expert on the topic; having her program featured in the NY Times Magazine. She is on a mission to normalize banking for the cannabis industry while assisting law enforcement and federal agencies be more effective at combating illicit activities. She is the author of “Navigating Safe Harbor – Cannabis Banking in Uncertain Times.”
Gov. Gary Johnson, Keynote Speaker.
Gary Johnson served as governor of New Mexico (1995–2003) and was the Libertarian Party’s presidential candidate in 2012 and 2016. Johnson was the first governor to advocate for the legalization of marijuana while in office. In 2014 Johnson became CEO and president of Cannabis Sativa, Inc., which sold cannabis products. Two years later he entered the presidential race. An avid sportsman, Johnson competed in triathlons and was a noted mountain climber. He has summitted the highest peaks on all seven continents, including Mount Everest.
Zane Vorenberg is a cannabis journalist living in Seattle, Washington, where he runs cannabisdailyrecord.com. Zane will be explaining the basics of cannabis, how today’s marijuana is different, how to buy it, sell it, and what industry terms mean.
Don Arkell’s unique leadership style and passion for Sales and Leadership have made him a sought-after speaker, trainer and strategist. He works with credit unions around the country helping them grow their loan programs, organizational design, lending technology and strategic planning.
Lucy Ito will bring a national regulatory perspective to the issues. Ito, formerly executive vice president and chief operations officer of the California and Nevada Credit Union Leagues, joined NASCUS in November 2014 as the organization’s president and CEO
About Us: The Credit Union Cannabiz Conference is the first national conference dedicated to solving the unique challenges that credit unions face when they enter the cannabis market.