ARVADA, Colo.—Sundie Seefried is ending her 20-year career as CEO of Partner Colorado Credit Union to become the CEO of a new cannabis banking company owned by Partner Colorado, the CU announced.
The credit union said it is combining its cannabis banking division—Safe Harbor Private Banking, with its CUSO—Safe Harbor Services, into one entity—Safe Harbor Financial, LLC.
The decision to combine the two divisions was approved by the CU’s board of directors. The move will increase efficiencies, position the company for future growth opportunities and potential investors, and create a unified brand to facilitate marketing efforts, the credit union stated.
“This transition will allow me to give my undivided attention to all matters concerning cannabis banking and the expansion of the program,” said Seefried, who is nationally recognized for her innovation in establishing a compliance-based banking program for cannabis businesses.
Seefried will step down as CEO of Partner Colorado on July 1, 2021 to head the new company.
“Partner Colorado will be majority owner of Safe Harbor Financial, LLC, and all cannabis-related funds will still flow through the credit union,” said Seefried.
“It’s the responsibility of the board and management to position the credit union and its subsidiaries for future success and to provide the best banking solutions for our members. Safe Harbor Financial will be poised to respond to and manage the market and regulatory forces in this rapidly growing and evolving industry,” said Linda Head, chairwoman of Partner Colorado’s board of directors. “The board has contracted with D. Hilton Associates to retain a new CEO. We have big shoes to fill with Sundie leaving and we are confident we will find an executive committed to the continued growth and success of Partner Colorado Credit Union,” said Head.