WASHINGTON – At previous Governmental Affairs Conferences, banking legal marijuana businesses was still too taboo of a topic for credit unions to discuss in a formal meeting.
But this year, something changed. On Sunday night, representatives from about 40 credit unions considering entering the marijuana banking space gathered at the Grand Hyatt to discuss the future of partnering with legal pot businesses. And despite recent threats from the Trump administration to crack down on recreational marijuana providers, attendees indicated that future is looking bright.
Former NCUA Board Chairman and current Bacino & Associates Partner Geoff Bacino organized the reception, which featured a short presentation by Partner Colorado Credit Union President/CEO Sundie Seefried. Seefried, whose Arcada, Colo., credit union has been serving marijuana businesses for two years, shared four reasons why she got into it. First, it helped take billions of dollars in cash off the streets in Colorado, improving community safety; second, it lined up with Partner Colorado's mission to serve underserved markets; third, it was a strategic move that allowed the credit union to stay relevant; and fourth, it made a major impact on the institution's bottom line.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
