Cannabis Banking
Primary Service Markets
Pennsylvania | New Jersey | New York | Delaware
Ohio | Massachusetts | Missouri | Illinois | Michigan
Expanded Service Areas
We can often support businesses located near our operational footprint. If your business operates outside these areas, contact our team to discuss available service options.
Cannabis Banking Built for Growth
Experience. Stability. Partnership.
While many financial institutions have only recently entered the cannabis space, Parke Bank has been serving Cannabis-Related Businesses (CRBs) since the early days of New Jersey’s medical cannabis program. With more than a decade of industry experience, our team understands the unique challenges and regulatory complexities cannabis businesses face. We provide the banking expertise, compliance knowledge and financial solutions, from secure cash management to lending, that help businesses operate confidently, grow strategically and succeed in an evolving industry.
Because cannabis businesses deserve a banking partner that understands where the industry has been, and where it’s going.
Ready to Get Started? Connect with a Cannabis Banking Specialist.
Whether you’re launching a new operation, expanding into new markets or looking for a banking partner that understands your industry, Parke Bank is here to help. Please contact our Kennedy Branch at 856-582-6900 for cannabis inquiries.
Banking That Works for Your Business
Whether you’re opening your first dispensary or expanding across multiple states, we provide the tools, support and expertise needed to manage your finances with confidence.
Who We Serve
✓ Dispensaries
✓ Cultivators & Growers
✓ Manufacturers
✓ Processors
✓ Distributors
✓ Transporters
✓ Testing Laboratories
✓ Ancillary Cannabis Businesses
Cannabis Banking
Solutions
✓ Business Checking Accounts
✓ Business Savings Accounts
✓ Online Banking
✓ Bill Pay
✓ Mobile Remote Deposit
✓ ACH Origination & Wire Transfers
✓ Positive Pay Service
✓ Commercial Lending
Why Cannabis Businesses Choose Parke Bank:
Local Decisions. Personal Service.
As a community bank, decisions are made locally by people who know your market and are invested in your success.
Compliance-Driven Banking
Our cannabis banking program is designed to help businesses operate safely and within regulatory requirements while maintaining access to essential financial services.
Secure Cash Management
Reduce cash-handling risks with banking solutions designed specifically for the cannabis industry.
Frequently Asked Questions
Are banks permitted to work with cannabis-related businesses?
Though many banks may choose not to serve cannabis-related businesses (CRB), we are permitted to work with them. The SAFE Act, if passed, will reinforce this. (See SAFE Act FAQ below). Parke Bank is here to serve the needs of most businesses, and have already established relationships with many CRBs.
Does Parke Bank work with cannabis-related businesses in any state?
Parke Bank is ready and equipped to work with cannabis-related businesses currently operating in New Jersey, Pennsylvania, Illinois, Missouri, Massachusetts, and Ohio. As the cannabis industry and state regulations continue to evolve, we are continually seeking opportunities to expand our footprint while maintaining compliance with all applicable laws. Our service areas are always growing, so contact us to inquire whether we are currently working in your state.
How can I start a banking relationship with Parke Bank?
One of our Parke Bank representatives would be happy to discuss the possibility of opening an account. Get in touch with us here >>
Does Parke Bank finance cannabis-related businesses?
We are willing to discuss the possibility, but due to the risk involved, cannot promise financing a CRB. Get in touch with us here >>
What is the SAFE Banking Act?
The Secure and Fair Enforcement (SAFE) Banking Act was introduced to Congress in May 2017, passed by the House in April 2021 and is currently pending being passed by the Senate. Specifically, it would prohibit regulators from barring banking institutions from offering financial services to cannabis-related businesses companies.
Business Banking Offerings
Request More Info