Association Certificates of Deposit (CDs)
Grow your reserves confidently with an association CD.
Get startedUse certificates of deposit to protect and grow HOA funds.
Help your homeowners association (HOA) or community association plan confidently for future projects and long-term financial needs. Our HOA CDs offer secure, fixed-rate returns with flexible maturity options.1 Put your community’s savings to work, so your board members can stay ready for whatever the neighborhood needs.
Why choose an HOA certificate of deposit?
Explore the key benefits of opening a CD account with Popular Association Banking.
No minimum to open
Flexible maturity dates
Lock in your funds for a set time. Choose from our terms ranging from 30 days to 10 years.1
Tiered interest rates
Earn a higher rate depending on your opening balance with our interest rate tiers.
Fewer fees
Benefit from no monthly maintenance fees.2
Online banking
Pay bills, transfer funds, monitor account activity, and more.
FDIC insurance
Relax knowing your money is FDIC insured.3
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 association CD accounts.
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An association certificate of deposit (CD) is a type of deposit account where your HOA, condo association, or community association agrees to deposit funds and leave them untouched for a fixed term. The term can be as short as 30 days or as long as several years. In return, you will receive a fixed interest rate for the duration of that term, which is usually higher than what you'd get with a regular savings account.
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An HOA should open a CD account because it offers higher interest rates than a regular savings account, helping to protect and grow your reserve funds. These extra earnings may be able to help offset rising costs like insurance premiums and project costs.
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A CD ladder is a savings strategy that spreads your HOA’s reserve funds across multiple CDs with staggered maturity dates. This approach provides more flexibility than locking all your reserves into one CD. You’ll have regular access to portions of your funds while still earning higher interest than a regular savings account.
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No, Popular Association Banking’s CD account does not have a monthly service fee. Please refer to Your Guide to Popular Certificate of Deposit (CD) Disclosure for additional information.
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There is no minimum deposit needed to open a CD account with Popular Association Banking.
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Yes, you can access your CD account online with Business Online Banking4 or on-the-go with our Popular Business Mobile app.5
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If you wish to withdraw funds from your CD before the maturity date, you will be subject to an early withdrawal penalty fee. Please review Your Guide to Popular Certificate of Deposit (CD) Disclosure for more information.
We have the association bank account you need.
Many HOAs maintain multiple accounts to meet different financial needs. Whatever your purpose, we have the right solution.
Get an interest-earning checking account for HOAs and community associations.
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 A penalty will be imposed for early withdrawal. Fees may reduce earnings on the account.
2 Direct charges to include but not limited to: Return Items, Non Sufficient Funds, Stop Payments, and Special Statement Requests, will apply.
3 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
4 Subject to enrollment in Business Online Banking. Fees may apply.
5 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.
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.
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.