Home Owners & Condo Owners Association

Banking Tailored to HOAs & COAs
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Streamlined bankingsolutions for HOAs and COAs

First Federal Bank is a one-stop shop for HOAs and COAs looking for banking services designed for your unique needs. With specialized HOA banking services, knowledgeable staff, and convenient 24/7 digital and mobile banking, First Federal is committed to helping you manage your finances efficiently and effectively. First Federal offers a comprehensive range of services, including:

  • Lockbox solutions
  • Cash management account
  • Enhanced business checking
  • Insured Cash Sweep (ICS)
  • Condo reserve funding
Learn More

Comprehensive HOA and COA Banking Solutions

The HOA/COA program from First Federal Bank streamlines payment processing, enhances cash flow, and bolsters audit control. You will receive the cost-effective benefits of automated processing and secure updates to your accounts receivables. Best of all, these solutions will save you time and expense compared to in-house processing.

Cash Management Account1

  • Tiered interest rates
  • Online banking
  • Earns interest on all daily balances2
  • Up to six transfers per month

Enhanced Business Checking3

  • Monthly service charge waived for Lockbox (Opens in a new Window) customers
  • Write and deposit up to 300 items
  • Instant-issue Visa Business Debit card
  • eCorp online account management services(Opens in a new Window) with eDeposit, ACH origination, wire origination, and positive pay
  • Text and email alerts
  • $50 credit towards your first order of checks
  • 1 Non-sufficient funds fee waived per year on request
  • Check images included on statement
  • Mobile Banking with Mobile eDeposit

 

Insured Cash Sweep (ICS)

  • An optional program to keep all your funds safe, and in one place
  • Earn interest while accessing FDIC insurance on large deposits

Condo Reserve Funding

Florida’s Senate passed a bill in May 2022 making it mandatory for all Florida condominium and cooperative buildings, three stories or higher, to undergo milestone or structural inspections. If you need credit to meet the requirements of Senate Bill 4D, or for any capital costs that may be related to milestone inspections, we are ready to help.

Lockbox Solutions

  • Payments processing
  • eDeposit with account receivable imports payments by check, credit card, and ACH
  • RemitWeb, secure website for imports and research

"First Federal Bank is a personalized banking experience. All the bank employees are ready to help and assist in any of the financial needs that arise. This bank goes above and beyond to help their customers in every aspect. I highly recommend First Federal Bank for personal and business banking."

- Lyra McCallister

Experienced loan officers to help guide you through the loan process.

Find your perfect mortgage loan officer today.

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1The applicant's income must be 80% or less of the county Area Median Income (AMI) for the subject property.

2The Buyers First Down Payment assistance provides $5,000 to cover up to 100% of down payment and closing costs. Availability and eligibility are subject to county-specific programs and guidelines.

3Up to 100% financing is based on the lower of the purchase price or appraised value.

4Primary residence – The property you purchase must be your primary residence, located in a Majority Minority Census Tract (MMCT) with approved Florida Counties: Clay, Duval, and Marion.

5Your loan originator will assist you on how to complete this requirement.

Availability and eligibility are subject to county-specific programs and guidelines. Terms and conditions apply./p>

© First Federal Bank is an FDIC insured nationally chartered mutual savings bank approved lender. Restrictions may apply. This offer is subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and property approval. Trade/Service marks are the property of First Federal Bank.

First Federal Bank: Residential Lending Mortgage NMLS: 408902

Equal Housing Lender