Florida HOA & Condo
Banking built for community associations — not retrofitted to them.
Operating, reserve, and lockbox accounts from banks and credit unions that already work with HOAs. Dual-control, association-software integrations, and reserve sweeps over FDIC limits — without explaining your bylaws three times.
Free for boards. We only get paid when a bank decides to follow up.
Tell us what you need
Products (operating, reserve, lockbox, ACH, LOC, sweep), county, current bank, and switch timing.
We match you to banks
Banks and credit unions with documented HOA workflows, dual-control flows, and the right integrations for your accounting software.
You hear from up to three
Matched institutions reach out within 24 hours. You pick. We never see the proposals or the rate sheets.
Built by people who've opened association accounts.
We know which banks treat associations as a real client segment and which file you under “small business other.” Common Elements is a Florida company; the institutions in this pool actually serve Florida community associations.
Common questions
Is there any cost to me as a board member?
No. The matching service is free for boards. Banks and credit unions in our network pay a per-lead fee only when a board they hear from looks like a real fit and they decide to follow up. You never see the fee; the institution absorbs it as a customer-acquisition cost.What about FDIC coverage on our reserve account?
Standard FDIC coverage is $250,000 per depositor, per insured bank, per ownership category. Most associations with meaningful reserves exceed that ceiling in a single institution, which is why we screen for banks that offer ICS (IntraFi Cash Service) or CDARS sweeps that distribute deposits across a network of FDIC-insured institutions while keeping a single statement. Tell us your reserve balance range in the brief and the matched banks will calibrate the conversation accordingly.What is a lockbox service and do we actually need one?
A lockbox is a P.O. box owned by your bank — owners mail assessment checks there, the bank opens, scans, deposits, and posts directly to your AR. For self-managed associations and management firms with a heavy paper-check tail, it kills several days of float and a lot of bookkeeping touch. Smaller associations on ACH-first collection rarely need it. The matched banks will tell you what their per-item lockbox pricing looks like — typical Florida range is $0.50 to $2.00 per item.What about dual-control and other association-specific safeguards?
Florida statute and most bylaws require dual-signature controls on association accounts — every bank we route to has a documented process for it, including online wire and ACH origination flows with multi-user approval. We screen for that before we put a bank in the pool. If your governing docs require a specific control (e.g., two signatures over $10,000), bring that to the conversation.What makes a bank 'HOA-friendly' vs. a regular small-business bank?
HOA-friendly banks: separate operating and reserve account structures, lockbox and association-software integrations (TOPS, AppFolio, Buildium, CINC), 1099 reporting that recognizes association reserve interest, willingness to underwrite line-of-credit facilities against assessment receivables, and back-office staff who don't fight the bylaws when you change board officers. Most regional generalists will technically open the account but won't have any of the integrations or workflows.How long does it take to switch banks?
Plan on 30 to 60 days end-to-end. The board vote and resolution typically takes a meeting cycle; the new account opens in a week; ACH origination + lockbox routing takes another two to four weeks; the old account stays open in parallel until residual checks clear. The matched banks will give you a more precise timeline calibrated to your products. If you're picking a bank for a brand-new association, the ramp is shorter — closer to two weeks.