Cannabis Banking in New Mexico: Opportunities and Risks

August 10, 2021 at 3pm (EST) - 90 minutes

In June of 2021, New Mexico joined a growing number of states that have legalized adult-use marijuana.  With the opening of retail sales targeted for April of 2022, it’s time for financial institutions to prepare themselves for the opportunities associated with a new, rapidly-growing and cash-intensive industry in their state.

Accordingly, the Credit Union Association of New Mexico and Green Check Verified are co-hosting the virtual event, “Cannabis Banking in New Mexico: Opportunities and Risks.”  This one and a half hour educational event covers the specific cannabis market opportunity in New Mexico, state-specific financial modeling and risk assessment, and the pillars of successful cannabis banking programs.

Taught by Green Check Verified subject matter experts — who have taken programs live across the country and in several states that have transitioned from medical to adult-use cannabis — attendees will gain a practical understanding of how financial institutions can grow with this industry, including case studies from institutions leading the pack with this niche line of business.

Topics Covered Include:

  • Forecasting the impact of adult-use legalization based on states that have had similar program expansions;
  • What credit unions can expect in terms of market opportunity;
  • How banking cannabis benefits smaller financial institutions;
  • Federal and state cannabis law, guidance, and regulations;
  • The unique factors that make this an ideal opportunity for credit unions;
  • Locating and onboarding cannabis businesses;
  • And working with your examiner.

In addition to the scheduled curriculum, this event will include question breaks throughout so you can ask the top-of-mind questions specific to your institution.

Takeaways

  • Copies of all presentation materials
  • A cannabis banking policy template
  • A copy of the sample financial model shared during the session
  • A copy of the sample risk assessment shared during the session
  • 90-day access to a recording of both sessions

Audience

  • Board members
  • CEO
  • CFO
  • Compliance and risk officers
  • Branch operations managers
  • Business development teams
  • Lending officers
  • Marketing and communications team