Safe Harbor, the Golden CO based cannabis banking pioneer, is alive and growing and that’s the message of today’s guest Terry Mendez, the recently installed CEO.
Mendez took over the seat that had been occupied by Sundie Seefried, onetime ceo of Partner Colorado Credit Union who left that post to helm Safe Harbor. Sundie, by the way, was the guest in CU 2.0 Podcast #139 which posted 4+ years ago, link in the show notes.
A lot had happened in those intervening years and, to my eyes at least, Safe Harbor seemed on the edge of extinction.
But Mendez is on the show to share his optimism about growing the business, how it hit financial troubles in 2023-24, how he says the troubles were abated, and why now is the time for more credit unions to take a fresh look at cannabis banking.
Probably Mendez is right, probably legal cannabis now is with us and, indeed, reliable, legally compliant banking has to be part of that package and Safe Harbor says it is well positioned to provide those services to credit union customers.
The reality is that there are many wrinkles to cannabis banking. That’s where a Safe Harbor – a guide that knows the legal route – comes in.
Want to know more about CUs and cannabis? Listen to episode 364 where Wright-Patt Credit Union talks about its experiences.
