Social and Economic Equity

New York is building an equitable market with fair treatment, access to opportunity, and advancement for all.
An Overview
Social and Economic Equity (SEE)

On March 31, 2021, New York State legalized adult-use cannabis by passing the Marihuana Regulation & Taxation Act (MRTA). The legislation established a robust social and economic equity (SEE) program to incentivize participation in this new industry for individuals disproportionally impacted by cannabis prohibition through the implementation of the SEE Plan (PDF). The Cannabis Law automatically expunges past marijuana convictions and mandates the investment of 40% of all adult-use cannabis tax revenue toward rebuilding communities harmed by the War on Drugs. 

 

The Cannabis Law establishes a goal of awarding fifty percent (50%) of all adult-use licenses to distinct SEE groups including: 

 

Qualifying for SEE 

To qualify for SEE status, sole control of the applicant must be held by an individual or individuals from a community disproportionately impacted by cannabis prohibition, a minority-owned business, a women-owned business, distressed farmers, or a service-disabled veterans. The person or persons having sole control must match the SEE group the applicant wishes to be qualified as. Please see the applicant overview for further details. 

 

Extra priority shall be given to applications that demonstrate that an applicant meets ALL of the following: 
  • Is a member of a community disproportionately impacted by the enforcement of cannabis prohibition;
  • Has an income lower than eighty percent (80%) of the median income of the county in which the applicant resides; and
  • Was convicted of a cannabis-related offense prior to the effective date of the MRTA, or had a parent, guardian, child, spouse, or dependent, or was a dependent of an individual who, prior to March 31, 2021, was convicted of a cannabis-related offense. 

 

SEE Applicant Overview (PDF)

 

 

New Resource Available
New Pro Forma Tool for Microbusinesses
Plan, project, and grow your cannabis business with confidence. This free Excel-based tool helps microbusiness licensees forecast revenue, estimate costs, and prepare for future investment—all with easy-to-follow tutorials.
Cannabis Banking Directory
Discover Banking Solutions for Cannabis Businesses

The SEE Team is actively working to improve access to banking and financial services for cannabis businesses, addressing one of the industry’s most significant challenges: the lack of reliable financial solutions. To support these businesses, the SEE Team has developed a Cannabis Banking Directory. This resource will connect licensed cannabis operators with financial institutions that understand and cater to the unique needs of the industry.

If you would like to be included in the directory, please contact the SEE Team at [email protected].


DISCLAIMER: Reference in this document to any specific commercial product, process, or service, or the use of any trade, firm or corporation name is for the information and convenience of the public, and does not constitute endorsement, support, or recommendation, by the Office of Cannabis Management. 

FirmContact InformationRegions ServedCannabis Services Offered
Suffolk Credit Union 

3681 Horseblock Road
Medford, NY 11763 
suffolkcu.org 

Micah Schlendorf 
AVP Business Development

Phone: (631) 730-3419
Email: [email protected] 

Long Island
  • Business Checking & Saving Accounts
  • Debit Card
  • Basic Cash Management Services
Jonestown Bank & Trust Co. (JBT)

P.O. Box 717
Jonestown, PA 17038 
jbt.bank/cannabis-industry 

Ashley Hess
VP, Cannabis Banking Manager

Phone: (717) 274-5180 
Email: [email protected]

All Regions
  • Business Accounts
  • Business Owner Accounts
  • Cash in transit contracts
  • Cash Management Services (including ACH & Wire)
  • Fraud Protection
  • Debit Cards
  • Limited Lending using real estate as collateral
Dart Bank

dart.bank 

Ross Sloan
SVP & Specialty Banking Officer

Phone: (517) 676-3661 
Email: [email protected] 

All Regions
  • Deposit Accounts
  • Cash Management Services (Payment processing for non-plant touching) 
Stearns Bank N.A. 

stearnsbank.com
Phone: 1(800)320-7262 
Email: [email protected] 
All Regions
  • Business Accounts
  • Loans
  • Cash Management Services 
AmeriCU Credit Union 

americu.org/cannabis-banking

Gail Rizzo-Spilka 
AVP, Membership Development

Phone: (315) 281-6507 
Email: [email protected] 

All Regions
  • Checking
  • Savings
  • Money Markets
  • Cash Courier
  • Cash Management Services
Valley Bank

80 E. Ridgewood Ave Paramus, NJ 07652 
valley.com

Caroline Colone 
Head of Specialty Banking Services

Phone: (973) 872-4567 
Email: [email protected]

All Regions
  • All Commercial Services – Full treasury wallet share; EXCEPT Merchant Services
Ponce Bank

2244 Westchester Avenue Bronx, NY 10462 
poncebank.com

Jason Olmeda 
VP BSA Officer

Phone: (718) 931-9000
Email: [email protected] 

Long Island
Mid-Hudson
New York City
Southern Tier
  • Business Checking Account for pre-licensed
  • Business Checking Account for licensed
  • Cash Management Services (ACH credit origination, wires, courier services, positive pay, merchant services)
Bison State Bank

9201 Ward Pkwy, Ste 210
Kansas City, MO 64114
bisonstatebank.com
Katie Honas
BSA Officer 

Phone: (833) 535-2095
Email: [email protected] 
All Regions
  • Business Checking Accounts
  • Business Money Market Accounts
  • Investor Accounts
  • Employee Accounts
  • Debit Cards
  • Treasury Management Services (ACH, Wire, RDC)
  • CIT/Cash Courier 

First Federal Bank

ffbf.com/business/specialty-banking

Specialty Support

Phone: (386) 243-6371
Email: [email protected]

All Regions
  • Business Checking & Saving Accounts
  • Debit Card
  • Cash Management Services
  • Treasury Management

Herring Bank

herringbank.com/business-banking/cannabis-banking

Sammi Murdoch
Business Development Coordinator, Cannabis Banking & Payments

Phone: 1 (877) 873-0079
Email: [email protected] 
All Regions
  • Debit Cards
  • Checks
  • ACH & Wires
  • Online Banking
  • Payroll
  • Electronic Tax Payments
  • Employee Accounts,
  • Commercial Real Estate Lending (Must qualify via underwriting)
  • Vehicle Fleet Loans (Must qualify via underwriting)

KeyPoint Credit Union
2150 Trade Zone Boulevard, Suite 200
San Jose, CA 95131

kpcu.com/Business/Cannabis-Banking


 

Charles Phillips
VP Cannabis Banking Development Manager

Phone: (888) 255-3637
Email: [email protected] 
All Regions
  • Business Accounts
  • Online Banking
  • Cash Management Accounts
  • Mobile Remote Deposit Capture
  • Cash Pick-Up & Delivery Services
  • ACH Payments
  • Electronic Tax Payments
  • Investment Options
  • Employee Accounts
  • Consumer Loans
  • Direct Deposit Payroll
  • Wire services
Regent Bank
7136 S. Yale Avenue
Tulsa, OK 74136

regent.bank/divisions/cannabis
Ben Shreffler
VP, Cannabis Banking Manager

Phone: (918) 488-0788
Email: [email protected] 
All Regions
  • Business Checking Account
  • Debit Card
  • Treasury Services (Online Banking, ACH, Wire, Mobile Deposit)
  • Insurance in select markets 

Seneca Savings
35 Oswego Street
Baldwinsville, NY 13027

senecasavings.com

Jamie Nastri
SVP Operations

Phone: (315) 638-0233
Email: [email protected] 
Central New York
  • Banking
  • Lending
Sunmark Credit Union
1187 Troy Schenectady Road
Latham, NY 12110

sunmark.org/cannabis-banking
Matthew Goodman
Community Development Consultant

Phone: (518) 338-2856
Email: [email protected] 
Capital District 
  • Business Checking
  • Business Savings
  • Business Money Market Accounts
  • Online and Mobile Banking
  • Domestic Wires

Tioga State Bank, N.A.
P.O. Box 386
Spencer, NY 14883

tiogabank.com


 

Phone: 1(888) 303-4872
Email: [email protected]

Central New York
Capital District
Mid-Hudson
Mohawk Valley
North Country
Southern Tier
Western New York


 

  • Cannabis Banking Checking & Savings
  • Digital Banking
  • Cash Management Services 
Salal Credit Union
PO Box 75029 
Seattle, WA 98175

salalcu.org/business/cannabis-industry-banking
Christoffer McCollom
Business Banking Sales Manager

Phone: (206) 298-9398
Email: [email protected]
All Regions
  • Business Checking
  • Business Money Markets
  • Debit Cards
  • Business CDs
  • Treasury Management Services (ACH, Wire, RDC)
  • Armored Car Cash Courier services
  • Positive Pay for fraud prevention
  • Credit Cards (non-Cannabis touching)
  • Business Loans (general purpose, vehicles and equipment)
  • Operating Lines of Credit
  • Commercial Real Estate Loans

Trustco Bank

trustcobank.com/bank-your-cannabis-business-with-trustco-bank

Lauren McCormick
Vice President

Phone: (518) 381-3673
Email: [email protected]
Capital District
Mid-Hudson
Mohawk Valley
  • Business Checking
  • Business Savings
  • Money Markets
  • Mobile Remote Deposit Capture
  • Treasury Services (ACH, Wires, Online Banking, Cash Management)
  • Employee Accounts
  • Commercial Lending
  • Wealth Management

First Central Savings Bank
70 Glen Street
Glen Cove NY 11542

www.firstcentralsavings.com

 

Peter Su
Director of Specialty Banking

Phone: (516) 888-0681
Email: [email protected]
Capital District
Central New York
Finger Lakes
Long Island
Mid-Hudson
Mohawk Valley
New York City
North Country
Southern Tier
Western New York
  • Full Service Business Accounts
  • Cash Management
  • Lending Available (for qualified applicants)

Four Leaf Federal Credit Union
899 S Oyster nay Rd
Bethpage NY 11714


www.fourleaffcu.com

 

Rohan Dalal
Sr. Business Banking Relationship Manager - Cannabis Banking

Phone: 1 (516) 760-1891
Email: [email protected]
Capital District
Long Island
Mid-Hudson
New York City
  • Deposit Accounts
  • Savings Accounts
  • Money Markets


 

CAURD Grant Program
CAURD Grant Applications Are Now Closed.
The funding for this CAURD (Conditional Adult-Use Retail Dispensary) Grant has been fully exhausted. As a reminder, this grant opportunity was administered on a first come, first served basis. If you have not yet received an award status update from the grant administrator, please email [email protected]. Check back regularly for updates on future funding opportunities, procurements, and other important announcements.
learn more about
Communities Disproportionately Impacted (CDI)
The Office has identified CDIs with the goal of elevating their participation in the adult-use market. A community disproportionately impacted (CDI) is a history of arrests, convictions, and other law enforcement practices in a certain geographic area, including, but not limited to, precincts, zip codes, neighborhoods, and political subdivisions, reflecting disparate enforcement of cannabis prohibition during a specific time period relative to the rest of the state. N.Y. CANBS § 87(5)(g) The enforcement of cannabis prohibition has had devastating effects on numerous communities, which continue to endure the collateral consequences of the state’s legacy of harsh drug laws. Decades of excessive policing and systemic arrest and incarceration rates have disproportionately harmed the economic, social, psychological, and financial well-being of these communities and their families.
Equity Incubators
Cannabis Hub & Incubator Program (CHIP)

The Cannabis Hub and Incubation Program (CHIP) is an OCM initiative aimed at continuing to advance Social and Economic Equity in the New York cannabis industry. CHIP encompasses a range of incubation initiatives designed to support Social and Economic Equity (SEE) individuals from their pursuit of various license types to maintaining operational compliance and ongoing growth in the industry.

 

Currently CHIP includes:
Technical Assistance Program

In an effort to extend license application and business support services to SEE applicants and licensees across the State, the Office launched the Technical Assistance Providers (TAP) Grant Program in Fall 2024. TAP Grants provide funding to community-based organizations, not-for-profits, and educational institutions that support SEE applicants and early-stage licensees in the operationalization of their businesses. 

TAP grantees are supported by the Office to equip SEE applicants and licensees with the knowledge, tools, and information necessary to successfully understand and navigate the application and licensing process, and to provide support, and training in regulatory compliance. Additionally, TAP grantees can provide 1:1 mentorship, application curing assistance, post-licensure support, supply chain education, and SEE certification assistance. 
 

SEE applicants and licensees interested in statewide TAP support should contact the below TAP grantees currently under contract with the Office to provide TAP support services. 

If you do not receive a response from the below TAP grantees within one week’s time, please reach out to [email protected] for assistance in reaching out.

EntityContact Information
SUNY Cobleskill Institute for Rural VitalityEmail: [email protected]  
Phone: 518-255-4053 
Lehman College Cannabis Workforce & Business Development Program Email: [email protected]
Phone: 718-960-4684 
SUNY Broome Entrepreneurship Assistance CenterEmail: [email protected]  
Phone: 607-777-4022
Borough of Manhattan Community College, CUNY Email: [email protected]  
Phone: 212-776-6544 
Harlem Business Alliance Email: [email protected]
Phone: 212-665-7010
Cannabis Social Equity CoalitionEmail: [email protected]
Phone: (646) 981-3257

 

CHIP Academy

One of the programs within CHIP, known as CHIP Academy, stands as a groundbreaking educational and training initiative aimed at supporting licensees within the New York cannabis industry. With a specific focus on addressing compliance and technical issues such as GMP certification and transitioning to different license types, CHIP Academy serves as a vital resource hub for licensees navigating the complexities of the industry. Through targeted educational programs and training modules, CHIP Academy empowers licensees with the requisite knowledge and skills to navigate their early post-licensure journey effectively. CHIP Academy is open to all licensees in the cannabis industry, inviting participants beyond SEE licensees to benefit from its educational and training initiatives.

For any CHIP Academy-related questions or to gain access to recorded webinars, please email [email protected]


 

Retail Accelerator

In anticipation of the first wave of equity retail licensees, OCM partnered with cannabis educator, “Our Academy” to provide immersive training and mentorship for equity licensees. The accelerator curriculum covered several aspects of opening and operating a retail cannabis business. Participants also received 1:1 mentorship and access to financial and marketing consultants. The retail accelerator will likely be a regular part of OCM’s ongoing support services and will be available to retail equity licensees. 
 
 

Cannabis Compliance Training and Mentorship (CCTM)

The CCTM program offers structured webinars covering cannabis cultivation, processing, agribusiness management, and regulatory compliance. It targets individuals with advanced horticultural or manufacturing experience and aims to diversify New York’s cannabis industry by preparing participants for the adult-use market. The program is supported by partnerships with SUNY, Cornell University, and other industry professionals. The OCM’s inaugural CCTM Program was held from October 2022 to January 2023 and is not currently being offered. 

Please email [email protected] with any questions related to these programs. 
 

Contact Us
Get in Touch with OCM

Please email [email protected] if you have any further questions.  

Would you or your organization like to provide volunteer services to SEE applicants as a Technical Assistance Provider? 

Please email [email protected] for more information on joining OCM’s TAP network.