Arvada, CO, June 02, 2018 --(PR.com
)-- Partner Colorado today announced a strategic partnership with El Capitan Advisors to provide investment management services for the credit union’s membership, including its cannabis banking subsidiary, Safe Harbor Private Banking.
El Capitan Advisors will provide a full suite of investment management services from liquidity management tools to long-term investment options, which will help Safe Harbor’s cannabis banking clients manage their wealth in the same, sophisticated manner available to other legitimate businesses and entrepreneurs.
“I’m pleased to announce the partnership with El Capitan to help support and serve our compliant cannabis businesses,” said Partner Colorado CEO, Sundie Seefried. “The increasing inflow of investment funds to the cannabis industry compelled us to seek assistance from other strong financial service providers, like El Capitan. Our credit union team is committed to banking legal cannabis businesses for the long haul, and we’ll continue to find and deliver compliant solutions, so that an industry forced to do business in cash, can instead manage their finances within an accountable financial system.”
“We are excited and appreciative for the opportunity to work with Partner Colorado Credit Union,” said El Capitan Advisor’s founder, Andrew Nash. “We have followed Sundie Seefried and her ‘outside the box’ thinking over the last several years and are fortunate to be able to establish this relationship. At the core of everything we do is strict compliance and transparency; a common theme required with all our clients and partnerships, and championed by Sundie.”
Supported by a network of administrators and custodians, El Capitan Advisors layers its own cannabis industry compliance process on top of the industry-leading one performed by Partner Colorado. Once completed, El Capitan offers a range of investment management products designed to suit the needs of the hyper-growth cannabis industry.
“We’ve long-admired pioneers like Sundie who have opened the doors of the banking sector to the cannabis industry,” said Nash. “But the truth remains that the supply of banks and credit unions willing to undertake the rigorous compliance needs of the industry remain few and far between. By working with Partner Colorado and its clients, El Capitan Advisors will provide much needed investment options to the industry, and at the same time, help reduce the balance sheet pressure on Partner Colorado.”
Since its inception, Safe Harbor has served the banking needs of legal cannabis businesses, who otherwise were forced by federal laws to conduct all transactions in cash. To deliver and maintain a compliance-based cannabis banking program, Sundie and her team have successfully endured six federal and four state exams to date and have worked tirelessly with regulators to fine tune processes to ensure safety and soundness. Sharing her unique knowledge and “hard knocks” experience of nearly four years as a pioneer in the industry, Sundie trains legislators, regulators and other financial institutions to help them avoid the difficulties and mistakes learned firsthand. “We are proud of our CEO and the program she has built,” said Partner Colorado Board Chairman, Al Lujan. “The Board and the cannabis industry are fortunate that Sundie will continue to lead this charge for several years to come.”
About Partner Colorado Credit Union
Established in 1931, Partner Colorado Credit Union is a member-owned not-for-profit cooperative with total assets exceeding $350 million. The credit union serves more than 31,000 members throughout the Denver metro area. Partner Colorado offers a wide range of financial products and services, including checking, savings, home and auto loans. Members benefit from the advantages of a credit union, including lower interest rates on loans and higher yields on savings. Partner Colorado actively supports the community by donating funds and employee volunteer hours to many Denver Metro area organizations. Partner Colorado is federally insured by the NCUA and is an Equal Housing Lender. For more information, visit partnercoloradocu.org.
About Safe Harbor Private Banking
Safe Harbor Private Banking is the only compliance-based banking program for the cannabis industry, and a subsidiary of Partner Colorado Credit Union, a member-owned not-for-profit cooperative with total assets exceeding $350 million. Praised by legislators and regulators as the “gold standard” in cannabis banking, Safe Harbor pioneered the turnkey program to help keep communities safer and stay true to the credit union philosophy of “serving the underserved.” The program is featured in a groundbreaking book, Navigating Safe Harbor: Cannabis Banking in a Time of Uncertainty, authored by Safe Harbor’s CEO, Sundie Seefried, and covered in the Wall Street Journal. For more information, go to safeharborprivatebanking.com.
About El Capitan Advisors
El Capitan Advisors is a Registered Investment Advisor (RIA) company, opened in 2017 and headquartered in Santa Barbara, California. The firm has a diverse base of clients across multiple industries and sectors including high net worth business owners, high net worth families, entrepreneurs, investors, funds, and financial institutions. In addition, El Capitan has a specialized focus on the underserved investment management needs of the cannabis industry. With a proprietary compliance program designed by bank executives and a network of aligned administrators and custodians, El Capitan provides a full suite of investment options to the industry and the financial institutions that service it. For more information, visit www.elcapitanadvisors.com.