What does a Cannabis Banking Professional mean and why is it useful?
715 banks and credit unions serve the U.S. cannabis industry and every state has at least one financial institution that serves cannabis businesses. The Cannabis Banking Professional Certification (CBP) focuses on the unique challenges and regulatory considerations for banking cannabis-related businesses. When you are CBP-certified, it tells the industry, and your customers, that you have gone above-and-beyond standard bank classes and invested in the future of the fastest growing industry on the planet.
Is Certification just for Bankers or can others get certified?
In the over four years since first launching CBP, hundreds of dispensary operators, lawyers, financial professionals, vendors, and consultants have all benefited from become CBP-certified with the ACBA. Our research two years ago with RiskScout found that cannabis businesses who switched banks did so because their prior institution did not treat them with respect or understanding of the challenges unique to this industry. Your CBP certification tells everyone that you understand compliance guidelines, terminology, audit requirements and best practices in order to deal with whichever aspect of the industry you operate.
What classes comprise the Cannabis Banking Professional Certification?
- Introduction to Cannabis Banking
- Understanding Cannabis Businesses
- Assessing Risk for Cannabis Banking
- Account Opening for Cannabis Bankers
- Navigating the Hemp Banking Frontier
- From Seed to Bank – Marketing Strategies for Your Cannabis Banking Program
- Effectively Performing High Risk Reviews and Onsite Visits
- BSA Negative News Searches
- Cannabis Payments Fundamentals
Can I take the cannabis banking certification all online?
Absolutely! The courses on the ACBA Learning Management System makes the work efficient and tailored to your schedule. ACBA training has no arbitrary deadlines for completion as students progress at their own pace. We have busy schedules too and you want to learn when it’s convenient for you! Each class finishes with a brief quiz and requires 80% completion for success. The class modules are videos along with handout(s). You have the ability to start, stop and resume at your leisure. You may also retake any prior class for knowledge retention and/or to achieve the passing requirement. Upon completion you may print a certificate of completion good for two years from date of issuance. Renewal is easy and when the time comes, you will only have to pay a small fee of $195 and complete any additional or revised elements since you were last certified. It’s that simple!