The #1 Banking Risk Most Cannabis Owners Overlook (Until It’s Too Late)

It’s not your product.
It’s not your license.
It’s not even your insurance.

It’s walking out of your dispensary or grow with thousands of dollars in cash, which is why cannabis banking becomes crucial.

Money Talks

We recently sat down with Jamie Kleve, Chief Operating Officer at St. Cloud Financial Credit Union. She shared a story that hit hard from when their institution was just getting into banking for cannabis businesses.

A cannabis employee walking out after hours with a million dollars in cash in a backpack. Nervous. Glancing over their shoulder. Tossing it in the trunk.

That’s not just dangerous. It’s unacceptable — and preventable.

Risk Management Means More Than Locks and Cameras

At Spire Insurance Solutions, we help businesses see the full picture. Risk isn’t just about theft — it’s:

• Employee safety
• Lawsuits from cash-related incidents
• Insurance claims that get denied due to improper cash handling

That’s why we encourage our clients to partner with institutions like St. Cloud. With secure courier pickups, compliance oversight, and flat-rate banking, you reduce the chance of loss — and improve your insurability through effective cannabis banking strategies.

Some insurance companies will surcharge or decline cannabis businesses based on how they handle cash. We help you fix that before it’s a problem.

Did You Know?

Some insurance companies may surcharge or decline certain coverage for cannabis businesses based on how they handle cash. We help you fix that before it’s a problem.

If you’re still relying on a local bank or handling cash yourself, you’re exposed. We work directly with St. Cloud Financial Credit Union to protect people, profits, and property through reliable cannabis banking partnerships.

💬 Schedule a discovery call with Spire and make sure you’re covered from all sides.

We’ve shared some helpful resources including information on buying cannabis insurance:

1. Minnesota Dispensary Insurance Tips for New Owners
2. Cannabis Business Insurance Cost Breakdown and Factors
3. Vetting Cannabis Insurance Agents: The Ultimate Checklist
4. Finding the Right Insurance Agent for Your Cannabis Business
5. The Reality of Cannabis Business Insurance: Why Multiple Agents Aren’t the Answer
6. Key Factors to Consider When Choosing Cannabis Insurance

Spire Insurance: Your Partner in Cannabis Business Protection

At Spire Insurance, we specialize in providing customized Minnesota dispensary insurance solutions for cannabis businesses. Our expertise ensures you receive the necessary coverage without overpaying, allowing you to focus on growing your dispensary confidently.​

By carefully assessing your insurance needs and partnering with knowledgeable professionals, including experts in cannabis banking, you can safeguard your dispensary’s financial health and position it for long-term success in Minnesota’s evolving cannabis market.

If you’re thinking about starting a dispensary or cannabis business, make sure to secure comprehensive Minnesota dispensary insurance.

Estimate the Cost of Your Cannabis Insurance

Don’t let high premiums hold your business back. Get started with our Cannabis Insurance Calculator to estimate