ARVADA, Colo.–Safe Harbor Private Banking, a CUSO of Partner Colorado CU, was recently featured on the CNBC series “Streets of Dreams.”
The host of the show, Marcus Lemonis, travels across the country, shining a light on the most iconic and influential streets that fuel America’s vital business cultures. In the most recent episode, Lemonis covers Denver's South Broadway, better known as the Green Mile, and meets the entrepreneurs and innovators who are pushing the multi-billion-dollar cannabis market forward, including Sundie Seefried, founder of Safe Harbor Private Banking.
“Even the regulators in Colorado knew the money needed to be banked, and to get a front row seat to this emerging market was just too interesting to deny,” said Seefried when asked what compelled her to develop a banking program for an industry that is still illegal on the federal level. “It was a cooperative effort between us and every cannabis business to get this job done,” said Seefried about early efforts to offer cannabis businesses a way to move from cash-only operations to having a safe place to bank. “We move $6 to $7 million in cash and other negotiable items every day through the Federal Reserve for the cannabis companies,” said Seefried.
In 2020 alone, Safe Harbor Private Banking managed and validated over $3 billion in cannabis-related funds. In 2021, Safe Harbor Private Banking is looking to expand their services to include commercial lending for the cannabis industry.