Safe Harbor Financial Launches Industry鈥檚 First Fully Managed Cannabis Banking Program for Financial Institutions
Safe Harbor Financial (NASDAQ: SHFS) has launched the industry's first Fully Managed Cannabis Banking Program, offering complete operational and compliance outsourcing for financial institutions serving the cannabis industry. The turnkey platform enables banks and credit unions to accept cannabis deposits without expanding internal teams or taking on additional risks.
The program features include complete operational outsourcing, reputational shielding, and improved efficiency ratios. Safe Harbor manages all aspects including BSA/AML compliance, client service, and reporting. The company has processed over $26 billion in cannabis-related deposits across 41 U.S. states and territories since 2015.
Safe Harbor Financial (NASDAQ: SHFS) ha lanciato il primo Programma di Banking per la Cannabis completamente gestito del settore, offrendo a istituti finanziari che servono l鈥檌ndustria della cannabis un outsourcing totale delle attivit脿 operative e di conformit脿. La piattaforma chiavi in mano permette a banche e credit unions di accettare depositi legati alla cannabis senza ampliare i team interni n茅 assumersi ulteriori rischi.
Il programma include outsourcing operativo completo, protezione della reputazione e miglioramento dei ratio di efficienza. Safe Harbor si occupa di tutti gli aspetti, tra cui conformit脿 BSA/AML, servizio clienti e reportistica. Dal 2015 l鈥檃zienda ha gestito oltre $26 miliardi in depositi legati alla cannabis in 41 stati e territori USA.
Safe Harbor Financial (NASDAQ: SHFS) ha lanzado el primer Programa de Banca para Cannabis totalmente gestionado de la industria, ofreciendo a las instituciones financieras que atienden al sector de la cannabis la externalizaci贸n completa de operaciones y cumplimiento. La plataforma llave en mano permite a bancos y cooperativas de cr茅dito aceptar dep贸sitos relacionados con la cannabis sin ampliar equipos internos ni asumir riesgos adicionales.
El programa incluye externalizaci贸n operativa completa, protecci贸n reputacional y mejora de los 铆ndices de eficiencia. Safe Harbor gestiona todos los aspectos, incluida la conformidad BSA/AML, la atenci贸n al cliente y la elaboraci贸n de informes. Desde 2015, la compa帽铆a ha procesado m谩s de $26 mil millones en dep贸sitos relacionados con la cannabis en 41 estados y territorios de EE. UU.
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Safe Harbor Financial (NASDAQ: SHFS) a lanc茅 le premier programme bancaire pour le cannabis enti猫rement g茅r茅 du secteur, proposant aux 茅tablissements financiers desservant l鈥檌ndustrie du cannabis une externalisation compl猫te des op茅rations et de la conformit茅. La plateforme cl茅 en main permet aux banques et coop茅ratives de cr茅dit d鈥檃ccepter des d茅p么ts li茅s au cannabis sans augmenter leurs 茅quipes internes ni prendre de risques suppl茅mentaires.
Le programme comprend un externalisation op茅rationnelle compl猫te, une protection de la r茅putation et une am茅lioration des ratios d鈥檈fficacit茅. Safe Harbor g猫re tous les volets, y compris la conformit茅 BSA/AML, le service client et le reporting. Depuis 2015, la soci茅t茅 a trait茅 plus de 26 milliards de dollars de d茅p么ts li茅s au cannabis dans 41 脡tats et territoires am茅ricains.
Safe Harbor Financial (NASDAQ: SHFS) hat das erste vollst盲ndig verwaltete Cannabis-Banking-Programm der Branche eingef眉hrt und bietet Finanzinstituten, die im Cannabissektor t盲tig sind, ein komplettes Outsourcing von operativen Aufgaben und Compliance. Die schl眉sselfertige Plattform erm枚glicht es Banken und Kreditgenossenschaften, Cannabis-Einlagen anzunehmen, ohne interne Teams zu erweitern oder zus盲tzliche Risiken einzugehen.
Zum Programm geh枚ren vollst盲ndiges operatives Outsourcing, Schutz der Reputation und verbesserte Effizienzkennzahlen. Safe Harbor 眉bernimmt alle Aspekte, einschlie脽lich BSA/AML-Compliance, Kundenservice und Berichtswesen. Seit 2015 hat das Unternehmen 眉ber $26 Milliarden an Cannabis-bezogenen Einlagen in 41 US-Bundesstaaten und -Territorien abgewickelt.
- First-mover advantage with industry's only fully managed cannabis banking solution
- Proven track record with $26 billion in cannabis deposits processed since 2015
- Extensive market reach across 41 U.S. states and territories
- Revenue potential through new financial institution partnerships
- Offers complete operational outsourcing reducing risks for partner institutions
- Regulatory uncertainty in cannabis banking sector
- Dependence on cannabis industry which remains federally illegal
- Potential competition from traditional banks if federal regulations change
Insights
Safe Harbor's new managed cannabis banking program allows financial institutions to access cannabis deposits without operational burden or reputational risk.
Safe Harbor Financial's launch of the industry's first Fully Managed Cannabis Banking Program represents a significant evolution in cannabis financial services. The program enables traditional financial institutions to accept cannabis deposits while completely outsourcing operations, compliance, and client management to Safe Harbor. This solves a critical pain point in the market where banks want cannabis deposits but fear regulatory complexity, staffing requirements, and reputational concerns.
The program's turnkey approach addresses several key challenges: banks gain sticky deposits without building internal cannabis expertise, cannabis businesses receive stable banking relationships, and financial institutions avoid direct association with cannabis through Safe Harbor's branding shield. What makes this particularly notable is that Safe Harbor has processed over $26 billion in cannabis deposits across 41 states already, demonstrating proven infrastructure.
For financial institutions, this creates a low-risk entry point into the cannabis sector without capital expenditure or specialized hiring. The efficiency ratio benefits could be substantial as they gain deposits without proportional operational costs. The model also provides an exit strategy for institutions already in cannabis banking but looking to reduce operational complexity.
This announcement solidifies Safe Harbor's position as both a technology platform and managed service provider in cannabis banking, potentially accelerating deposit growth through institutional partnerships rather than direct-to-business acquisition alone.
Turnkey platform offers banks and credit unions cannabis deposits with lower overhead and workload, reduced regulatory and operational risks and no reputational exposure
DENVER, Sept. 02, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a (Safe Harbor or the 鈥淐ompany鈥�) (Nasdaq: SHFS), a fintech leader in providing financial services and credit facilities to the regulated cannabis industry, announced the official launch of its the industry鈥檚 first and only solution offering complete operational and compliance outsourcing for financial institutions. The announcement comes ahead of CEO Terry Mendez鈥檚 participation in the , where he will join industry leaders to discuss the future of cannabis banking, reinforcing the Company鈥檚 commitment to delivering compliant, scalable financial infrastructure at a national level.
The turnkey program is designed for community banks, credit unions and financial institutions seeking to serve the legal cannabis market without expanding internal teams, taking on new risk, staffing or marketing cannabis services directly. From client acquisition and onboarding to compliance oversight and account support, Safe Harbor handles
鈥淔or more than a decade, we鈥檝e helped financial institutions navigate the complexities of cannabis banking,鈥� said Terry Mendez, CEO of Safe Harbor Financial. 鈥淭his launch comes as financial institutions increasingly seek safe, scalable ways to serve the cannabis market while mitigating regulatory ambiguity. Our program fills this gap with a proven, compliant path to growth. We鈥檙e making it easier than ever by offering our proven, fully managed model that allows institutions to benefit from cannabis deposits without the added burden of risk, overhead or reputation management.鈥�
Key features of the program include:
- Sticky Deposit Growth: Licensed cannabis operators are vetted, acquired and onboarded by Safe Harbor, with deposits placed directly at the partner bank or credit union.
- Complete Operational Outsourcing: Safe Harbor manages all aspects of program execution, including BSA/AML compliance, client service, business development, marketing and reporting.
- Reputational Shield: The program is operated under the Safe Harbor brand, insulating financial institutions from direct cannabis association.
- Improved Efficiency Ratio: By minimizing startup costs and operational overhead, the program enables financial institutions and cannabis businesses to achieve stronger margins and more efficient resource utilization.
Mendez added: 鈥淲hile some providers offer software tools or compliance platforms, Safe Harbor delivers a fully outsourced, operationally managed banking solution 鈥� no new staffing, infrastructure or internal cannabis program needed.鈥�
鈥淏anks and credit unions often want to serve the cannabis market but are constrained by staffing limitations or reputational concerns,鈥� said Kimberly Seefried, vice president of Safe Harbor and head of the Company鈥檚 Fully Managed Cannabis Banking Program. 鈥淭his program eliminates those barriers. We bring our proven model, team and brand 鈥� they simply hold the deposits.鈥�
Safe Harbor鈥檚 Fully Managed Program represents a strategic expansion of a model the company has privately operated since 2015. With over
The program also offers a seamless exit strategy for institutions winding down cannabis banking operations, enabling them to transfer deposit management and client servicing to Safe Harbor without disrupting relationships.
About Safe Harbor:聽
Safe Harbor is a cannabis-exclusive financial platform delivering smarter banking, lending, payments and business services tailored to how the cannabis industry actually operates. As one of the original pioneers of compliant cannabis banking in the U.S., Safe Harbor has facilitated more than
Cautionary Statement Regarding Forward-Looking Statements:
Certain information contained in this press release may contain 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor鈥檚 services; Safe Harbor鈥檚 growth prospects and Safe Harbor鈥檚 market size; Safe Harbor鈥檚 projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor鈥檚 securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor鈥檚 expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渃ontinue,鈥� 鈥渃ould,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntends,鈥� 鈥渙utlook,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥減lan,鈥� 鈥減ossible,鈥� 鈥減otential,鈥� 鈥減redict,鈥� 鈥減roject,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor鈥檚 filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Safe Harbor Investor Relations Contact:聽
Safe Harbor Media Relations Contact:
Ellen Mellody
570-209-2947
FAQ
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