VIDEO: The big ‘what if’ in cannabis banking
Liquidity is a chief consideration for credit unions entering this business.
Doug Fagan, Partner Colorado Credit Union
Among regulators’ biggest concerns about cannabis banking is the prospect of credit unions having to divest these assets due to a changing regulatory landscape, says Doug Fagan, president/chief financial officer for $521 million asset Partner Colorado Credit Union in Arvada.
“It’s the big ‘what if,’” says Fagan, who addressed the 2021 CUNA Finance Council Virtual Conference. “We don’t see this happening, but regulators are looking to protect the insurance fund. They need to make sure we’d be in a safe place from a liquidity standpoint if we have to divest.”
In this video from the conference, Fagan outlines the top liquidity-related concerns with cannabis banking.
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