Safe Harbor Financial and Würk Partner to Expand Access to Cannabis Financial Services and Workforce Solutions

By: Safe Harbor Financial Services, Inc. via GlobeNewswire

April 03, 2025 at 08:30 AM EDT

DENVER, April 03, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (Safe Harbor) (Nasdaq: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry is expanding its partnership with Würk, the first and leading Human Capital Management (HCM) company in the cannabis industry. Through this strategic partnership, Safe Harbor and Würk and will establish a mutual referral program leveraging their combined expertise in providing innovative HCM and financial services solutions to help cannabis businesses secure the banking¹ rates and financial support necessary for success.

As the cannabis sector matures and regulatory complexities grow, these integrated services offer operators a crucial advantage in navigating compliance and scaling effectively. Under the agreement, Würk will introduce cannabis-related businesses (CRBs) to Safe Harbor’s digital-first banking solutions, while Safe Harbor will refer clients to Würk for industry-specific HCM services. Together, Würk and Safe Harbor will employ their deep knowledge of the evolving industry and technological solutions to connect cannabis entrepreneurs with fair banking rates and effective financial resources. While the agreement formalizes a strategic referral partnership, it is non-exclusive, allowing both companies the flexibility to continue serving a wide range of industry clients and partners.

Safe Harbor and Würk are bolstering their collaborative efforts to help enterprises overcome one of the industry’s most common challenges: access to reliable, transparent and compliant banking solutions. By bridging the gap between workforce management and financial accessibility, Würk and Safe Harbor will also help cannabis professionals establish personal bank accounts with institutions that fully recognize and support the industry. This partnership is designed to help cannabis entrepreneurs address both financial and operational roadblocks that limit their ability to compete and grow.

“As recently as 2023, seven in ten cannabis businesses said the ‘lack of access to banking or investment capital’ was their top challenge—and that reality is still holding back innovation and growth,” said Deborah Saneman, CEO of Würk. “By partnering with Safe Harbor, we’re able to connect our clients to critical resources they need to thrive. Just as Würk helps simplify people management in a highly regulated space, Safe Harbor streamlines access to reliable financial services. Together, we’re not just solving a pain point—we’re laying the groundwork for long-term stability and expansion across the cannabis sector.”

“This partnership is more than just a referral program—it’s a shared commitment to solving one of the most persistent and painful challenges in the cannabis space: access to financial services,” said Terry Mendez, CEO of Safe Harbor Financial. “By connecting our clients to Würk’s industry-leading workforce tools and offering their clients access to our compliant financial services, we’re helping businesses potentially reduce costs while bridging two foundational needs – people and capital. Together, we’re creating real pathways for cannabis operators to grow with confidence, compliance, and lasting support.”

Safe Harbor Financial is a fintech leader facilitating financial services and credit facilities to the regulated cannabis industry, offering a range of financial solutions geared towards the unique needs of cannabis businesses. With more than a decade of experience, Safe Harbor has helped hundreds of clients navigate the complex sea of regulations imposed at the state and federal level.

The launch of the mutual referral program enhances the company's library of financial solutions. Würk leverages nearly a decade of experience to develop solutions that improve recruiting, human resources, scheduling, timekeeping, payroll, and retirement planning. To learn more about how Würk is helping companies identify compliant financial services, please visit https://enjoywurk.com/.

About Würk
Würk allows cannabis companies to manage payroll, human resources, timekeeping, scheduling, and tax compliance and minimizes compliance risks in the ever-changing cannabis regulatory environment. The company uses its expertise and trusted partnerships to provide guidance on 280E tax law, accounting, and compliant banking. Its platform is designed to scale nationally with the industry's growth while incorporating the local laws and regulations unique to individual states. For more information, visit https://enjoywurk.com/.

About Safe Harbor:
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

Cautionary Statement Regarding Forward-Looking Statements:
Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Safe Harbor Investor Relations Contact:
Mike Regan, Head of Safe Harbor Investor Relations
ir@SHFinancial.org

Safe Harbor Media Relations Contact:
Ellen Mellody
570-209-2947
safeharbor@kcsa.com

Wurk Media Contact
MATTIO Communications
wurk@mattio.com

^¹ Safe Harbor is not a bank, but works through financial institution partners to provide compliant financial services and credit facilities tailored to the cannabis industry.