Booming adult-use cannabis sales during the first few years of the COVID-19 pandemic led some to deem the industry ‘recession-proof.’ While it remains to be seen how inflation and a potential economic downturn will impact [...]
CUInsight Publisher & CEO Lauren Culp is joined by Jenna Meyer, Director of Client Success at Shield Compliance for a quick interview with just 3 questions about cannabis banking... Three questions: (0:30) In the [...]
The cannabis industry is known for having passionate supporters, business owners, and customers who proudly advocate for their product and its benefits. So, does that mean you have to be “pro-cannabis” to bank cannabis-related businesses ([...]
Even as the legal cannabis market continues to expand and state-level legalization continues to advance, many credit unions are hesitant to develop cannabis banking programs because of the associated risks and compliance requirements. But with [...]
The Federal Reserve Bank recently announced its first interest rate hike since 2018 and financial institutions across the country are turning an eye toward new sources of low-cost deposits. The growing legal cannabis market offers [...]
Thank you for tuning in to episode 33 of The CUInsight Network, with your host, Lauren Culp, Publisher & CEO of CUInsight.com. In The CUInsight Network, we take a deeper dive with the thought [...]
A growing number of banks are banking cannabis businesses. Technology is helping them scale up their efforts and ensure they remain compliant in a regulatory and legal gray area. It also gives them a head [...]
As the director of client success, a chief concern I often hear from credit unions considering banking the cannabis industry is that the compliance requirements are much more intrusive than what they are accustomed to [...]
With Tax Day just around the corner, Shield spoke to Neil Rosenfield, a CPA with Baker Tilly, about Section 280E of the Internal Revenue Code – specifically about how it impacts cannabis-related businesses (CRBs) and what [...]
When the Illinois legislature legalized adult-use cannabis in 2019, state leaders embarked on a campaign to encourage local banks and credit unions to provide banking services to this emerging industry. Following a meeting with the [...]
Looking at the experience of states that have previously implemented legal adult-use cannabis programs, we can predict fairly well what will happen next: a surge of investment, new businesses, and demand for capital. Growth in [...]
Will my credit union pass its compliance exam? Are any of my members at risk of losing their licenses? Am I tracking all of my members' cannabis transactions? Not only are these the types of [...]
The new year is right around the corner, making it an ideal time to reflect on the past year and anticipate what changes may be ahead for credit unions contemplating or already serving cannabis-related businesses ([...]
As we prepare to gather around the Thanksgiving table with friends and family, we are reminded of the importance of community and our relationships with those around us. As mission-driven financial institutions, credit unions are [...]
I know it can be easy for bankers to be spooked by the prospect of cannabis banking. First, they must contend with a thriving illicit market. Second, it's a cash-intensive business, and they have to [...]
