In January 2014, Colorado became the first state to open recreational cannabis (also known as marijuana, weed, or hemp) stores. Since then, the state has been a pioneer of cannabis rights and is a leader in cannabis policy. 

Colorado has served as a prime example of the benefits cannabis revenue can deliver to a state’s economy. Although boasting increased commercial real estate demand, tax revenues, and jobs created, cannabis still faces a number of challenges and stigmas. 

Your Colorado Cannabis Financial Services Experts

At Confia, we proudly provide a comprehensive suite of financial services designed to empower cannabis businesses in Colorado. Our dedicated team of experts is well-versed in the specific challenges faced by the cannabis industry, ensuring that you receive the support and insights necessary to thrive in this unique market.

As specialists in serving industries that have traditionally been underbanked, Confia is your trusted partner in navigating the regulatory landscape of cannabis-friendly financial services in Colorado. We are committed to offering secure commerce services, allowing you to confidently organize your business, expand payment options, and ensure compliance with ease.

Our services include:

• • • Checking and savings accounts
    • Online commerce platform access
    • Payroll assistance
    • ACH payment and origination options
    • Wire services

Rest assured, Confia accounts are FDIC-eligible, providing an unlimited account balance for your peace of mind as you navigate the dynamic cannabis market in Colorado.

At Confia, we advocate for comprehensive and reliable services for all cannabis-related and other emerging or high-risk industry businesses in Colorado. Our team of professionals is devoted to meeting your unique needs and facilitating your success in the Centennial State.

Looking Out For the Centennial State

Marijuana is still considered illegal at the federal level; however, in Colorado, both medical and recreational use of marijuana is legal, and since 2018, hemp has been legalized nationwide. The nuances of these various laws, particularly those governing Colorado hemp industry operations, can be perplexing for cannabis-related businesses (CRBs). 

The Marijuana Enforcement Division (MED) of the Colorado Department of Revenue oversees the regulation of the hemp industry in the state. Compliance with state and local laws, maintenance of accurate records, and the necessity for a licensed location are all requirements stipulated by the MED for CRBs.

Moreover, the Federal Financial Institutions Examination Council (FFIEC) issues guidance to banks and credit unions regarding their responsibilities when engaging with cannabis-related businesses. Confia’s extensive knowledge of these rules and regulations positions us as industry leaders in providing commerce services to CRBs in Colorado. We specialize in helping you maintain compliance with the law, ensuring the smooth and secure operation of your business.

Whether you’re looking to open a checking account, facilitate electronic tax payments, or explore investment options, Confia is your comprehensive financial services solution.