HOA Bank Services & Community Association Solutions

Community association banking solutions that put you first

Banking solutions to meet your unique needs

Take advantage of our community association management company solutions and HOA bank services. Our dedicated experts are here to guide you to the right solutions—so you can focus on serving your communities.

Connect with a dedicated community association banking expert

Ready to learn more about our HOA solutions?
HOA Deposit & Reserve solutions

Put your association deposits and reserves to work

Secure HOA deposits, streamline your HOA banking and get flexible access to funds when you need them. Our deposit solutions give you the security of knowing your funds are protected, while our reserve solutions help you manage and grow your association's funds. You get the benefit of working with experts who understand the unique needs of community associations and the complexities of managing deposits over $250,000.

Money Market Accounts

With a variable-rate community association banking money market account, you get tiered interest rates based on your account balance. You can use this deposit solution as an operating overflow account or as a reserve account.

Certificates of Deposit (CDs)

Get fixed rates based on selected terms of 30 days to 60 months, with available ladder CD options.

ICS® and CDARS®

Using ICS®, the IntraFi® Cash Service℠ and CDARS®, the Certificate of Deposit Account Registry Service®, you can access FDIC insurance for deposits, both large and small, and enjoy the simplicity of working directly with just one trusted, local institution.D When using ICS, your funds are placed into money market deposit accounts, demand deposit accounts or both. When using CDARS, your funds are placed into CDs.

Reserve Solutions

Choose one or a combination of flexible deposit options for your HOA reserve account between sweep accounts, money market accounts, CDs or ladder CDs. You'll get the ease of dealing with one bank that can serve all your HOA banking needs, the peace of mind knowing your funds are protected and the flexibility to access funds when you need them.

Checking Accounts

Choose from two checking accounts—Basic Checking or Interest Checking—each with unlimited transactions.

HOA Lending Solutions

Loans and financing solutions to meet your needs

We have the financing solutions you need to add a clubhouse, pool, community center or playground, or improve structures and roads. Our experienced team works with you to customize financing and loans to meet your community association's needs. Find the HOA loan financing solution that's right for you—with no brokerage fees.

Cash Management Solutions

Powerful tools to help manage your costs

We've got the tools and banking expertise to help you improve your cash flow and manage funds for your community association management company or homeowners association.

Cash Management

Lower costs, speed up payment processing, and get easy access to funds and real-time information reporting.

Disbursement & Collection

Schedule and execute ACH transactions, online bill payments and wire transfers. Deposit checks remotely and get same-day access to funds.

Risk Management

Stay protected. We'll help you reduce risk more effectively and monitor incidents of fraudulent payments.

Funds Management

Improve accounts receivable and remittance processing with sweep accounts and lockbox services. Consider our cash vault service for larger cash transactions.

Commercial Online Banking

Access your community association and HOA bank accounts from anywhere

Power your business forward with our fast, secure commercial online banking platform. Get the following customizable features and more, with the service and support you need anytime, anywhere.

Alerts

Get alert options for balance thresholds, anticipated transactions or fraud attempts.

Reconciliation

Easily reconcile transaction detail and check images to resolve customer inquiries.

Wire Transfers

Move funds when and where you need them with ACH and wire transfers.

Stop Payments

Easily manage the flow of incoming and outgoing payments.

Filtering

This feature examines each check and reports irregularities found directly to you through positive pay, filters and blocks.

Remote Deposit Capture

Save time by depositing checks remotely.

Reporting

Get secure external account viewing and on-demand reporting.

Software Integration

Integrate and connect your business software into QuickBooks® or a full suite of APIs.

Community Association Banking FAQ

People often ask us

When opening a new association account, one of the following documentation types must be provided:

  • Supporting documentation, which includes: Articles of Incorporation, Partnership Agreement or Operating Agreement (LLC). Verification takes 24 to 48 hours after receipt.
  • Tax Identification Number. Verification takes 24 to 48 hours after receipt.
  • Written email request with account types—operating or reserve

If the organizational documents listed above aren't provided for the HOA, two of the following documents must be obtained. This applies only to HOAs—not PMCs. At least one of the options must be an official document:

  • Tax return for the most recent filing year
  • State filing or verification of company's status—also known as a Letter of Good Standing by the Secretary of State

Collect one of the following, in addition to the state filing or current tax return:

  • Management Agreement with HOA—first and last signed pages, at minimum
  • Bylaws
  • Master Deed—filed with the state
  • Tax documentation: 1099, 147 C or SS 4 Response Letter
  • Business License or Certificate
  • Resolution of Non-Profit Association or Organization
  • Utility bill bearing HOA name
  • Cancelled check paid to HOA account from another bank
  • Sole Proprietorship Resolution of Authority
  • Covenants, Conditions & Restrictions, or CC&Rs, and Declarations
  • Statement of Information or Corporate Meeting Minutes identifying the current corporate officers. Must be certified by current Secretary.

Note: If the tax return and state filing as outlined above are provided, additional documentation isn't necessary. This list applies only to HOAs and not PMCs.

Community Association & HOA Banking Insights

Expand your knowledge

Account openings and credit are subject to bank approval.

QuickBooks and QuickBooks Online are registered trademarks of Intuit, Inc. First Citizens Bank is not affiliated or associated with Intuit, Inc.

Deposit placement through CDARS or ICS is subject to the terms, conditions and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (SMDIA) at any one destination bank, a depositor's balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi, ICS, CDARS and Certificate of Deposit Account Registry Service are registered service marks of IntraFi Network, LLC. IntraFi Cash Service is a service mark of IntraFi Network, LLC.

CDARS Products:
Term offerings depend on the availability within the IntraFi network. Not all offerings may be available at all times. Rates subject to change. Offer subject to change.

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Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.

NMLSR ID 503941