Special District Banking Services
Alliance Association Bank strives to deliver the best of both worlds: expertise in the community association industry as well as special and metro districts in Colorado. We provide deep banking resources along with tech-forward solutions tailored to your special district needs.
Special District Deposit Accounts
For special districts and those who serve them, we offer tools to manage your checking and savings needs. Alliance Association Bank, as a division of Western Alliance Bank, is an eligible public depository for the State of Colorado.
Our comprehensive offering of banking solutions provides customized investment strategies for reserves and complete transparency for board members. Solutions from essential checking services to money market accounts1 and CDs2 make it possible for your organization to select the accounts and services best suited to your needs.
Special District Checking
One low monthly maintenance fee with unlimited checking transactions including lockbox, stop payments, remote deposit items, online banking3, ACH transfers, Positive Pay4 and more. Interest paid on eligible checking accounts.
Special District Money Market Accounts
An Alliance Association Bank money market account will earn a competitive interest rate with the industry standard maximum of six withdrawals per month.
Special District Certificates of Deposit
Alliance Association Bank offers competitive interest rates on certificates of deposit. Special Districts can choose the terms that best fit their needs.
Special District ICS and CDARS®5
We are part of a special network – IntraFi’s network of financial institutions. When you deposit over $250,000 with us, you can choose to have your funds placed into accounts issued at other banks in the network – in increments of less than the standard FDIC insurance maximum – so that both principal and interest are eligible for FDIC protection.
As a result, you can access coverage from many banks while working only with Alliance Association Bank. Access multi-million-dollar FDIC insurance coverage for your funds, whether placed in CDs, demand deposit accounts or money market demand accounts, all while working solely with the bank you know and trust – Alliance Association Bank.
Special District Cash Management
Cash management services offer the tools you need to efficiently collect receivables (lockbox), manage payables, monitor account activity, and maximize investments. Our comprehensive solutions can help your cash work harder for you so that you can do more for your district.
Special District Lockbox6
With our convenient lockbox option, you can accelerate fee collection and improve your cash flow, by delegating this task to a trusted financial institution such as Alliance Association Bank.
Payments are processed in our lockbox center where we deposit the funds directly into your accounts, reducing checks in your office, minimizing liability, and eliminating trips to the bank. Daily payment remittance information can be uploaded to your accounting software automatically updating homeowner ledgers. Dependent upon your accounting software platform.
Special District Online Banking3
Alliance Association Bank’s Online Banking delivers powerful and customizable tools for managing finances online for the districts you manage – anytime, anywhere. This user-friendly solution enables you and your designated employees to access and analyze your treasury information with exceptional financial control capabilities.
Special District Remote Deposit7
Alliance Association Bank can assist in accelerating the availability of your receivables with remote deposit. The remote deposit check scanner system is secure, convenient and enables you to deposit directly to lockbox with minimal keying and process deposits faster — right from your desk.
Automated Account Reconciliation
Based on your accounting platform, automated bank reconciliation may be an option. With automated bank reconciliation, transactions from the previous day are matched with corresponding transactions within your software, allowing for quick and accurate bank reconciliation. Functionality dependent on accounting software platform.
Automated Clearing House (ACH)
ACH service can lower costs and reduce the time it takes to process payments and other transactions. You can quickly and easily make transfers between accounts.
Special District Fee Payment Services
Alliance Association Bank’s payment portal provides a secure, user-friendly gateway to schedule one time and/or reoccurring payments, add multiple payment methods to a single user profile, review electronic payment history and receive and review email notifications.
It also eliminates the need to manually manage ACH payment files, all while providing convenient self-service access to manage their payments.
Pay by eCheck or Credit Card
Using the Alliance Association Bank payment portal, members can make a convenient one-time eCheck payment with just a few clicks or pay with a Visa®, MasterCard®, American Express® or Discover® card.
Pay by Direct Debit
Members can opt to have recurring district payments debited directly from their accounts each pay period at no additional charge. When recurring payments are set up through our payment portal, payments are processed automatically. For districts, direct debit avoids the need to monitor ACH transactions and may reduce the higher fraud risk associated with other payment methods.
Pay by Mail
With Alliance Association Bank’s lockbox service, we can help accelerate the collection of members payments and eliminate hours of manual entry and sorting by simply advising homeowners to send their physical payments to the designated post office box. Upon receipt, homeowner payments are processed and deposited into the district’s account. Remittance information and thorough documentation of all activity will be forwarded on a daily basis.
Special District Banking Experts
Providing Banking Solutions for Your Colorado District needs
Our locally-based bankers combine a deep understanding of Colorado districts’ needs with a customer-first philosophy. The result is responsive, personalized service. Let’s discuss how our banking experts can help maximize your operational efficiencies.
1. Withdrawal transaction limits apply. Refer to the disclosures provided at account opening and the Schedule of Fees and Charges for additional information.
2. Early withdrawal penalties may apply.
3. Fees may be imposed for additional services related to online banking. Refer to Business Online Banking Setup and Authorization for more information.
4. Requires enrollment in Business Online Banking. Refer to disclosures provided at account opening, the Business Schedule of Fees, and Pro Forma for additional information.
5. 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.
6. Funds deposited through the Lockbox will follow Western Alliance Bank’s funds availability policy as outlined in the Deposit Account Agreement Disclosure.
7. A Business Checking account required. Other related fees may apply. Some products and services may be subject to prior approval or fees. 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.