Manage your day-to-day operations with our checking accounts.
Simplify your financial management with an interest-earning checking account built for homeowners associations (HOAs) and community associations. Whether you're handling routine operating expenses or coordinating vendor payments, our HOA checking account gives you the flexibility and control you need to keep your community running smoothly.
Explore the key benefits of our HOA checking account.
These HOA bank account features are designed to meet your community’s unique needs.
No minimum to open
No minimum deposit is required to open an HOA checking account.
Fewer fees
No monthly maintenance fees on any of our deposit accounts.1
FDIC insurance
Relax knowing your money is FDIC insured.2
Interest-earning account
Interest is compounded daily and credited to your account monthly.
Online account management
Pay bills, transfer funds, monitor account activity, and more.
No cost for basic deposit slips
Basic deposit slips are included at no cost.1
Account opening made easy.
We’ve simplified the account opening process for HOAs and community associations. To request a new deposit account, download and complete the New Account/Change In Signers Request form and email it to associationsupport@popular.com.
Frequently asked questions about HOA checking accounts.
-
An HOA checking account is a type of business checking account designed for HOAs, condo associations, and community associations. It can help your association manage the day-to-day operations and responsibilities of the community.
-
An interest-earning checking account (or interest-bearing checking account) allows you to earn interest on your balance. Our HOA checking account is an interest-earning account, where interest is compounded daily and credited to your account monthly. If you close your account before interest is credited, you will not receive the accrued interest.
-
There is no minimum deposit needed to open a checking account with Popular Association Banking.
-
The minimum balance to earn interest on your HOA checking account is $0.01.
-
No, Popular Association Banking’s checking accounts do not charge a monthly service fee. Please refer to Your Guide to your Popular Association Banking Premier Business Now Checking Account
-
Yes, you can access your account online with Business Online Banking3 or on-the-go with our Popular Business Mobile app.4
Explore our comprehensive HOA banking services.
Our HOA banking services will allow you to maintain multiple accounts to meet different financial needs. Whatever your purpose, we have the right solution.
Lock in your funds with competitive rates and flexible terms tailored for HOAs.5
Earn more on your HOA’s reserves while maintaining access to your funds.6
Access Multimillion-Dollar FDIC Insurance Coverage at participating network banks.7
1 Direct charges to include but not limited to: Return Items, Non Sufficient Funds, Stop Payments, and Special Statement Requests, will apply.
2 Your deposits are insured up to $250,000 per depositor. You may qualify for more than $250,000 in coverage if you hold deposits in different account ownership categories. For more information, please refer to: FDIC.gov
3 Subject to enrollment in Business Online Banking. Fees may apply.
4 Standard mobile carrier charges and fees may apply. Mobile Deposit requires the Popular Business Mobile app. Mobile Deposit is subject to eligibility; all deposits are subject to verification and may not be available for immediate withdrawal. For more details, please refer to the Popular Business Mobile User Agreement.
5 A penalty will be imposed for early withdrawal. Fees may reduce earnings on the account.
6 For money market accounts, you are permitted to make up to six transfers and withdrawals or any combination thereof per statement cycle (or similar period) by means of a preauthorized or automatic transfer, withdrawal by check, draft, debit card, or transfer or withdrawal by online bill pay or by phone. These limitations are applied according to the date when the transaction is posted to the account and not the date when the check is written or the transfer is authorized. The limits do not apply to withdrawals made at a banking center, by ATM, or by mail. If these limits are exceeded, we may, at our option, impose excess transaction fees.
7 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 IntraFi.com. The depositor may exclude banks from eligibility to receive its funds.