HOA Deposit Accounts
Choose from a full spectrum of deposit accounts for your Homeowners Association (HOA), Common Interest Development (CID) or Planned Unit Development (PUD). Alliance Association Bank offers everything from interest-paying HOA checking1 to money market accounts2 to CDs1. Earn interest, enjoy no-fee services and select the types of accounts most suited to your business needs.
HOA Basic Checking
Our Basic Checking account gives you basic HOA checking features with unlimited check writing and no monthly service charges.
HOA Interest Checking
With our Community Checking account, you earn interest on your funds, while enjoying unlimited HOA checking transactions, no monthly service charges, no-fee online banking and more.
HOA Money Market
Earn an attractive rate of interest on your HOA, CID or PUD reserve funds, and make up to six withdrawals per month with no penalty.
HOA Certificates of Deposit
Receive a guaranteed rate for holding these HOA CDs for a given time period until maturity.3 You may earn a higher interest rate when you choose a longer term.
HOA ICS® and CDARS® 4
Earn interest and access multi-million-dollar FDIC insurance through Alliance Association Bank’s offering of ICS® and CDARS®.
HOA Cash Management
Alliance Association Bank offers comprehensive cash management services for your Homeowners Association (HOA), Common Interest Development (CID) or Planned Unit Development (PUD). These services help you efficiently collect receivables, manage payables, monitor account activity and maximize investments—all to make your cash work harder for you.
HOA Lockbox5
Use this cash management tool to accelerate HOA, CID or PUD assessments collection and improve your cash flow. Homeowners’ payments are sent to a post office box that we establish for you, then quickly delivered to our Lockbox center, where they’re processed and deposited into your accounts each day.
HOA Online Banking6
Get high-performance, 24 hour-a-day online banking and cash management, plus seamless, cross-platform integration with ecommerce, core banking and imaging systems. Online HOA, CID and PUD cash management services include Automated Clearing House (ACH) Origination, which enables you to generate and modify ACH files within any online banking session.
HOA Remote Deposit7
Now, you can deposit checks electronically from your office or remote locations, so you no longer have to get to the bank before the end of the day. Remote Deposit lets you make deposits with same-day posting, anytime Monday through Friday up to 1:00 p.m. Pacific Time.
Automated Clearing House
With ACH, you can quickly and easily make transfers between accounts, including payments of HOA, CID, and PUD assessments. This service lowers costs and reduces the time needed to process homeowner payments and other transactions.
Automatic Account Reconciliation
Reconcile your banking activity online daily in real time, and avoid having to wait for bank statements to show up in the mail. By using Automatic Account Reconciliation daily, at the end of the month, you’ll be ready to produce financial statements without the burden of hand reconciling each bank account.
HOA Assessment Payment Services for Homeowners
At Alliance Association Bank, we offer homeowners a wide range of options for making Homeowners Association (HOA), Common Interest Development (CID) or Planned Unit Development (PUD) assessment payments. Homeowners get the convenience of paying assessments the way they want.
Pay by eCheck
Homeowners can make a one-time HOA, CID or PUD assessment payment with just a few clicks. Payments made with eCheck will take up to four days to process.
To setup an eCheck or recurring payment, please contact your community management company or access your association’s website.
Pay by Credit Card
Our secure, convenient HOA, CID or PUD assessment payment service accepts Visa®, MasterCard®, American Express® and Discover® Card, with minimal fees. Payments made by credit card may take up to five days to process.
To setup a credit card payment, please contact your community management company or access your association’s website.
Pay by Direct Debit
Homeowners can have their HOA, CID or PUD assessments taken directly out of their accounts each month, for free. Since it’s automatic, they won’t have to worry about remembering to make payments. Moreover, this option removes the management company from ACH transactions, and reduces the higher fraud risk associated with other payment methods
Pay by Mail
Homeowners can write checks for HOA, CID or assessment fees and mail them to our Lockbox8 center, where they will be quickly processed and deposited.
1. Refer to the disclosures provided at account opening and the Schedule of Fees and Charges for additional information.
2. Withdrawal transaction limits apply. Refer to disclosures provided at account opening and the Schedule of Fees and Charges for additional information.
3. Early withdrawal penalties may apply.
4. 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. ICS and CDARS are registered service marks of IntraFi Network LLC.
5. Funds deposited through the Lockbox will follow Western Alliance Bank’s funds availability policy as outlined in the community association’s Deposit Account Agreement Disclosure.
6. Fees may be imposed for additional services related to online banking. Refer to Business Online Banking Setup and Authorization for more information.
7. A Business Checking account required. Other related fees may apply. Refer to disclosures provided at account opening, the Business Schedule of Fees, and Pro Forma for additional information. Funds deposited through Remote Deposit Capture will follow Western Alliance Bank’s funds availability policy as outlined in the Deposit Account Agreement Disclosure.
8. Funds deposited through the Lockbox will follow Western Alliance Bank’s funds availability policy as outlined in the community association’s Deposit Account Agreement Disclosure.