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.
- 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
- Board members
- Compliance and risk officers
- Branch operations managers
- Business development teams
- Lending officers
- Marketing and communications team