Safe Harbor Financial Launches Interest-Bearing Commercial Accounts
12 July 2023 - 10:00PM
SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe
Harbor” or the “Company”) (NASDAQ: SHFS), a leader in
facilitating banking, payments, and financial services to the
regulated cannabis industry, today announced the launch of
interest-bearing commercial deposit accounts to cannabis businesses
nationwide.
This new product offering was launched in
response to an unmet need in the industry, as many of the smaller
banks and credit unions servicing the cannabis industry do not
currently make interest-bearing products available to these
clients. Offered through one of Safe Harbor’s proprietary financial
institution partnerships, this new account product will provide
depositors the opportunity to earn interest income with no maximum
balance limitation.
“We are excited to launch the first
interest-bearing account product broadly available to U.S. cannabis
businesses,” said Sundie Seefried, Chief Executive Officer at Safe
Harbor. “Interest-bearing accounts are especially important to
large depositors in the current banking climate, and we’re proud to
be able to offer our clients more of the important financial and
treasury tools that they need to grow and protect their
businesses.”
About Safe HarborSafe Harbor is
among the first service providers to offer compliance, monitoring
and validation services to financial institutions, providing
traditional banking services to cannabis, hemp, CBD, and ancillary
operators, making communities safer, driving growth in local
economies, and fostering long-term partnerships. Currently managing
approximately 1000 cannabis-related relationships, Safe Harbor,
through its financial institution clients, implements high
standards of accountability, transparency, monitoring, reporting
and risk mitigation measures while meeting Bank Secrecy Act
obligations in line with FinCEN guidance on cannabis-related
businesses. Over the past eight years, Safe Harbor has facilitated
more than $18 billion in deposit transactions for businesses with
operations spanning over 40 states and US territories with
regulated cannabis markets. For more information, visit
www.shfinancial.org.
Forward-Looking
StatementsCertain statements contained in this press
release constitute "forward-looking statements'' within the meaning
of federal securities laws. Forward-looking statements may include,
but are not limited to, statements with respect to trends in the
cannabis industry, including proposed changes in U.S and state
laws, rules, regulations and guidance relating to Safe Harbor's
services; Safe Harbor's growth prospects and Safe Harbor's market
size; Safe Harbor's projected financial and operational
performance, including relative to its competitors; new product and
service offerings Safe Harbor may introduce in the future; the
impact of recent volatility in the capital markets, which may
adversely affect the price of the Company's securities; the outcome
of any legal proceedings that may be instituted against Safe
Harbor; other statements regarding Safe Harbor's expectations,
hopes, beliefs, intentions or strategies regarding the future; and
the other risk factors discussed in Safe Harbor's filings from time
to time with the Securities and Exchange Commission. In addition,
any statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intends," "outlook," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would," and similar
expressions may identify forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject, are subject to risks and uncertainties. These
forward-looking statements involve a number of risks and
uncertainties (some of which are beyond the control of Safe
Harbor), and other assumptions, that may cause the actual results
or performance to be materially different from those expressed or
implied by these forward-looking statements.
Contact Information
Safe Harbor MediaNick Callaio, Marketing
Manager720.951.0619Nick@SHFinancial.org |
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Safe Harbor Investor Relationsir@SHFinancial.org |
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KCSA Strategic CommunicationsPhil Carlsonsafeharbor@kcsa.com |
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