Help a Cannabis Colleague—And Earn a $250 Statement Credit While You’re At It*
The cannabis community is well-connected, and at Salal, we want to meet your friends.
In Autumn 2024, we introduced our new Refer-a-Business program to thank our members who share Salal with their peers. If you haven’t heard the details yet—or just haven’t had a chance to participate—this is your reminder that referring a cannabis business can benefit you and help another business get access to reliable financial services.
A Decade of Trust, Now with a Thank You
Since launching our cannabis banking program more than 10 years ago, Salal Business Officers have built strong relationships within the cannabis industry. Many of our members found us through a peer recommendation. That inspired us to create the Refer-a-Business program.
“We created the Refer-a-Business program to show our appreciation to our members for trusting in us so much that they are willing to refer us to their counterparts in the industry,” said Christoffer McCollom, Business Banking Sales Manager at Salal.
How the Refer-a-Business Program Works
If you’re a licensed or pre-licensed cannabis business banking member in good standing, you can refer another licensed or pre-licensed cannabis business to Salal. If they apply and open an account, both of you could receive a $250 statement credit when the referred business:
- Deposits at least $10,000 within the first 30 days
- Maintains a $10,000 average daily balance during the following 30 days
The statement credits will be reported on a 1099-MISC tax form at year’s end, and our existing business member referrers can receive up to 2 $250 referral statement credits per month.
The Impact Goes Beyond the $250
We know our members are busy. That’s why our Business Officers actively share reminders and updates about the program.
“It’s a great program that can help members offset monthly analysis charges,” said Audrey Sarkaria, Associate Business Officer. “And it naturally comes up when members say they love working with our team—I just say, ‘Send them over!’”
The rewards aren’t just financial. As Christoffer explains, the program also helps build deeper trust and connection across the cannabis industry.
“The biggest business impact has been our ability to build brand trust and foster a strong community around Salal. Personally, it’s been about the relationships—growing alongside our members and helping more people navigate the complexities of cannabis banking.”
Real Stories, Real Connections
Audrey shared a recent success story that captures the spirit of the program. One of her member businesses had operated entirely in cash for six years before finding Salal.
“They were thrilled to finally have a financial institution that wouldn’t shut their account down—and to receive top-tier service,” she said. “They’ve now referred over six other businesses, and three have already opened accounts with us. Each of those three is now considering their own referrals.”
Let’s Keep Growing Together
So, if you have business colleagues who aren’t yet familiar with Salal, we’d love to hear from you. Please reach out to your Business Officer or to Business Services at 206.298.9398 or BusinessServices@SalalCU.org anytime.
