Helping Businesses Grow Since 1941
We’re all about creating fair financial opportunities for everyone. From personal to business banking, we’re a credit union that will find unique ways to support your successes. Which is why we’re so excited to offer services to the growing cannabis industry.
Our consultant Safe Harbor Financial, a pioneer in offering cannabis-industry banking services. Their extensive industry know-how, combined with our top-notch service, makes BHFCU a win for cannabis businesses in South Dakota and Montana.
Account Features & Services
For your business
- Business account in your name (with NCUA insurance!)
- Generally in-branch cash deposits are available same day. If using a cash-carrier, allow up to 3 business days.
- Cannabis banking fees are capped
- Savings, checking, and high-yield account options
- Business Debit Cards
- Online & Mobile Banking (includes remote check deposit)
For your team
- Cash deposits accepted without the hassle
- Savings, checking, and high-yield account options
- Debit and credit cards
- Home, vehicle, and other lending services
- Online & Mobile Banking (includes remote check deposit)
Flat Fees with a Cap*
- $2,000 application fee (non-refundable)
- 0.35% monthly fee based on deposits**
- No fee on cash handing***
Fee Comparison Chart
| App Fee | Monthly Per License Fee | Monthly Fee | % on Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Total | |
| BHFCU | $2,000 | $0 | $0 | $0 | $100 | $350 | $350 | $350 | $350 | $350 | $3,850 |
| Institution one | $500 | $0 | $500 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $9,500 |
| Institution two | $250 | $0 | $750 | $0 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $6,250 |
| Institution three | $1,000 | $0 | $795 | $0 | $1,195 | $1,195 | $1,195 | $1,195 | $1,195 | $1,195 | $8,170 |
| Institution four | $2,000 | $0 | $0 | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $5,000 |
| Institution five | $200 | $500 | $0 | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $3,200 |
Fees comparison chart includes Application Fee, Monthly per License Fee, Monthly Fee and Percentage of Sales fees (as applicable) and assumes deposit activity of $100,000 per month. Additional fees may apply, please see our full Schedules of Fees here: Cannabis Banking Fee Schedule and Business Schedule of Fees. Terms and conditions subject to change without notice.
We’re all about improving lives.
Since we first opened our doors back in 1941, we’ve had a passion for supporting growth in our communities. Whether through donations, sponsorships, or our staff-led giving program, we work hard at helping our communities and people thrive.
Interested in learning more? Get started by filling out this form, and we’ll be in touch.
*Additional unlisted fees can apply in accordance with BHFCU’s standard business fee schedule.
**Deposits include wires, merchant processing deposits, electronic wire transfers, etc.
***3rd party armored car service fee if business is deemed cash intensive and large deposit validation fees can apply at BHFCU’s discretion.