A money market account designed for your community's future.
At Popular Association Banking, we understand the unique needs of homeowners associations (HOAs) and community associations. Our HOA money market account is designed to help your association grow its reserves while staying ready for whatever comes next, whether that’s routine maintenance or major improvements. This account lets you earn competitive interest rates on your operating and reserve funds while still maintaining access to your funds.1
Why choose an HOA money market account?
Explore the benefits of opening a money market account with Popular Association Banking.
No minimum to open
No minimum deposit is required to open a HOA money market account.
Easy access
Maintain access to your funds to make payments or cover unexpected expenses.1
Fewer fees
Enjoy no monthly maintenance fees on our money market accounts.2
Competitive rates
Earn higher returns on your reserves with our competitive interest rates.
Online banking
Pay bills, transfer funds, monitor account activity, and more in Business Online Banking.3
FDIC insurance
Relax knowing your money is FDIC insured up to the maximum amount as permitted by law.4
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 banking and money market accounts.
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An HOA money market account is an interest-earning deposit account that typically offers higher interest rates than a traditional savings account.
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There is no minimum deposit needed to open an HOA money market account with Popular Association Banking.
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No, Popular Association Banking’s money market account does not have a monthly service fee. Please refer to Your Guide to Your Popular Association Banking Premier Business Money Market Account for additional information.
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Yes. Any funds you deposit into a money market account are insured by the Federal Deposit Insurance Corporation (FDIC), up to $250,000 per depositor, per FDIC-insured bank, per ownership category.
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You can make up to six transfers and withdrawals or any combination thereof per statement cycle or similar period (of at least 4 weeks) without a fee. Any additional transfers and/or withdrawals will incur excessive transaction fees.1 Please review the Schedule of Fees for more information.
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Yes, you can access your account online with Business Online Banking3 or on-the-go with our Popular Business Mobile app.5
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Our homeowners association money market accounts offer competitive interest rates. For the most up-to-date rates, please contact us directly.
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.
Lock in your funds with competitive rates and flexible terms tailored for HOAs.6
Access Multimillion-Dollar FDIC Insurance Coverage at participating network banks.7
1 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.
2 Direct charges to include but not limited to: Return Items, Non Sufficient Funds, Stop Payments, and Special Statement Requests, will apply.
3 Subject to enrollment in Business Online Banking. Fees may apply.
4 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
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 A penalty will be imposed for early withdrawal. Fees may reduce earnings on the account.
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.