The road to federal marijuana legalization remains a long, treacherous and perhaps even impossible one, yet some credit unions are continuing to fight for the industry's business owners by offering them banking services. But is it worth the risk?

Last week, I sat in on Safe Harbor Private Banking's first-ever Cannabis Banking Q&A webinar. Led by Sundie Seefried, president/CEO of Partner Colorado Credit Union in Arcada, Colo., the webinar offered attendees a rundown of how cannabis banking could benefit a credit union as well as a wake-up call as to what it actually entails.

Seefried has established herself as a leader in cannabis banking, and has been vocal about her motivation behind banking the industry (creating safer communities by getting cash off the streets, realizing exponential business growth and living up to the credit union philosophy of serving the underserved) while remaining totally transparent about the headaches involved (an overwhelming amount of compliance work and the potential for hefty fines). Her credit union has been serving marijuana businesses for more than two years, and she's now helping other credit unions break into the market through her cannabis banking program, Safe Harbor Private Banking.