[PRESS RELEASE] – DENVER, Sept. 2, 2025 – SHF Holdings Inc., d/b/a Safe Harbor Financial, a fintech leader in providing financial services and credit facilities to the regulated cannabis industry, announced the official launch of its Fully Managed Cannabis Banking Program, the industry’s first and only solution offering complete operational and compliance outsourcing for financial institutions. The announcement comes ahead of CEO Terry Mendez’s participation in the PBC Conference 2025, where he will join industry leaders to discuss the future of cannabis banking, reinforcing the Company’s 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 100% of the program operations while deposits are held directly by the partner institution.
“For more than a decade, we’ve helped financial institutions navigate the complexities of cannabis banking,” Mendez said. “This 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’re 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.”
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.
“While some providers offer software tools or compliance platforms, Safe Harbor delivers a fully outsourced, operationally managed banking solution—no new staffing, infrastructure or internal cannabis program needed,” Mendez said.
“Banks and credit unions often want to serve the cannabis market but are constrained by staffing limitations or reputational concerns,” said Kimberly Seefried, vice president of Safe Harbor and head of the company’s Fully Managed Cannabis Banking Program. “This program eliminates those barriers. We bring our proven model, team and brand—they simply hold the deposits.”
Safe Harbor’s Fully Managed Program represents a strategic expansion of a model the company has privately operated since 2015. With over $26 billion in cannabis-related deposits processed to date across 41 U.S. states and territories, Safe Harbor is now opening its proven platform to additional partners with financial institutions nationwide.
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.
