Comprehensive Banking Solutions for New Mexico CRBs

Customized Financial Accounts: Recognizing the necessity for CRBs to manage their finances with ease and security, Herring Bank provides customized checking and savings accounts. These accounts are designed to meet the specific needs of the cannabis industry, ensuring that businesses can manage their funds in a compliant and efficient manner.

Advanced Online Banking: To cater to the digital-savvy business landscape, Herring Bank offers advanced online banking services. This platform allows CRBs to conduct their banking activities 24/7 from anywhere, facilitating everything from routine transactions to complex financial management with ease. This accessibility is crucial for maintaining continuous operations and supporting business growth.

Cash Management and Security: Given the cash-intensive nature of the cannabis industry, Herring Bank offers robust cash management solutions. These include secure cash transport services to mitigate the risks associated with handling large amounts of cash, and specialized cash management accounts that help businesses optimize their cash flow and liquidity.

Workforce Financial Management: To streamline the management of employee payments and financial transactions, Herring Bank offers services such as employee accounts, direct deposit, ACH payments, and wire transfers. These services simplify payroll processes, ensuring timely and accurate payment to staff, which is essential for maintaining morale and operational efficiency.

Commitment to Compliance and Partnership

Herring Bank places a strong emphasis on regulatory compliance, working closely with CRBs to ensure that all financial operations adhere to state and federal regulations. This commitment to compliance not only protects the bank and its clients but also promotes a stable and legitimate cannabis market in New Mexico.

By choosing Herring Bank’s specialized banking services, cannabis-related businesses in New Mexico can expect a reliable financial partner that understands their unique needs and challenges. With Herring Bank, CRBs gain access to a suite of financial tools and resources designed to support their operational efficiency, regulatory compliance, and growth aspirations in the dynamic cannabis industry.

*Any lending is on a case by case basis, speak to your account manager to see if you qualify!

Financial Services for New Mexico Cannabis Companies

Cannabis enterprises in New Mexico face distinct financial challenges, requiring bespoke services that cater specifically to their operational needs. Herring Bank excels by providing targeted financial solutions to licensed cannabis-related businesses across New Mexico, including both dispensaries and cultivation operations. Offering business savings and checking accounts designed with the cannabis industry’s specific requirements in mind, Herring Bank is instrumental in facilitating smooth cash flow management and precise financial transaction processing for these entities.

The bank’s dedication to offering comprehensive banking solutions is underscored by its digital services. In the evolving landscape of New Mexico’s cannabis market, which welcomed recreational use in 2021, online and mobile banking are essential for continuous and effective financial oversight. These digital tools enable cannabis businesses the flexibility to manage their finances from any location, ensuring constant monitoring of their financial wellbeing. Further enhancing its service portfolio, Herring Bank provides debit cards, check services, and tiered money market accounts, among other financial offerings, guaranteeing that New Mexico’s cannabis companies have access to a wide spectrum of financial services comparable to those available in any other sector.

  • Checking and savings accounts

  • Online banking with 24/7 access

  • Payment Processing

  • Electronic tax payments

  • FDIC Insured accounts

  • Cash pick-up and delivery services

  • Investment options

  • Employee accounts

  • Direct deposit payroll

  • ACH payments

  • Wire Services

  • Cannabis Business Advisory

Cannabis Banking in New Mexico

Cannabis Banking for Growers, Dispensaries, Wholesalers, Testing Labs, Armored Car Services and more!

Marijuana Banking in New Mexico

Ready to discuss how we can help you and your Cannabis Business in New Mexico?

Cannabis Banking Where You Need It
Colorado Cannabis Banking & Armored Courier Services:

Colorado Springs, Denver, Aurora, Pueblo

California Cannabis Banking & Armored Courier Services:

Los Angeles, San Diego, San Jose, San Francisco, Fresno, Sacramento, Long Beach, Oakland, Bakersfield, Anaheim, Santa Ana, Riverside, Stockton, Chula Vista, Irvine, Oakland,

Want to learn more about Safe Harbor and the Safe Banking Act?