Safe Harbor Financial Launches First Fully Managed Cannabis Banking Program for Financial Institutions

September 2, 2025

DENVER, Colo., Sep 02, 2025 (247marketnews.com)- SHF Holdings, doing business as Safe Harbor Financial (NASDAQ:SHFS), launched what it calls the industry’s first fully managed cannabis banking program, a turnkey solution for financial institutions looking to serve the legal cannabis sector without the risk, overhead, or reputational exposure.

Announced just ahead of CEO Terry Mendez’s appearance at the PBC Conference 2025, the program offers full operational and compliance outsourcing for banks and credit unions. Safe Harbor handles everything from client acquisition and onboarding to BSA/AML compliance, servicing, and reporting, while deposits remain at the partner institution.

“For more than a decade, we’ve helped financial institutions navigate the complexities of cannabis banking,” said Mendez, highlighting the company’s goal to simplify entry into this heavily regulated space. The new platform is intended for institutions constrained by staffing or regulatory concerns, providing them with access to cannabis-related deposits without expanding internal teams or managing compliance risks.

Key benefits include:

  • Direct deposit growth through Safe Harbor-managed onboarding of licensed cannabis clients;
  • Reputational shielding, as the program operates under the Safe Harbor brand;
  • Operational efficiency, eliminating the need for new infrastructure or internal cannabis programs.

With over $26 billion in cannabis-related deposits processed across 41 states and territories, Safe Harbor is scaling up a model it has quietly operated since 2015. The company also offers a seamless transition path for institutions looking to exit cannabis banking by transferring accounts and servicing to Safe Harbor without disrupting client relationships.

As more financial institutions look to serve the growing cannabis sector without navigating the regulatory minefield alone, Safe Harbor Financial appears well-positioned to be their backend partner of choice.

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