 |
|
||||
|
||
 |
||
|
||
| CoveragePlusSM Deposit Insurance | |
 |
|
||
| HOA Deposit Services | |
|
|
||
| HOA Lockbox Service | |
|
|
||
| HOA Loans | |
|
|
||
| HOA Electronic Assessment Services | |
|
|
||
| Meet The Team | |
|
|
||
 |
||
 |
||
 |
|||
| >How You Benefit | >How It Works | >A Range of Services | >Commitment to Service | |||
| The more quickly and accurately you process your association assessments, the faster these dues can be converted into available, productive funds. Our Remittance Processing service reduces the time it takes to process your assessments and post the deposits to your account. When you use this service, you'll save valuable time by eliminating in-house handling of payments. And most importantly, you'll update receivables more quickly and improve your cash flow. | |||
| How You Benefit | |||
| Get quicker access to funds. Payments are processed and deposited more quickly, improving cash flow and making funds available sooner. Streamline in-house procedures. Save in-house processing time and daily trips to the bank, reducing costs and freeing staff for other needs. Increased control. Payment processing and reporting can be customized to meet your unique requirements, making it easier to update accounts and improve audit controls. Reduce expenses. The use of our electronic assessment collection service helps ensure timely payments - thus reducing the time and cost of collecting late assessments. Better customer service. You can offer homeowners the convenient, inexpensive option of sending their payments electronically. | |||
| Here's How It Works | |||
|
Via Mail or Courier. Your association members simply mail their payments to a pre-assigned U.S. Post Office box. We then collect the payments from the Post Office at regular intervals - established to meet early check processing and clearing house deadlines - and deliver them to our HOA Lockbox Service facility. At our processing center, your payments are sorted and deposited into your association's account. Assessment information is captured and immediately available to you for updating your accounting systems. |
|||
| Via Direct Electronic Deposit. Alternatively, you can take advantage of our electronic assessment collection service. With this convenient service, association members authorize you to draw the specific amount of their assessments from their bank accounts on or around the 8th of each month. Members' accounts are automatically charged and the association's account credited for the payment electronically through the Automated Clearing House (ACH) system. | |||
| Your association members no longer have to remember to write monthly checks or incur postage. They know their assessments will be made automatically and on time - eliminating the possibility of incurring late charges. You save both the time and expense involved in tracking and collecting late payments. Deposits are credited to your account more quickly and also more predictably, as you'll know in advance the date your account will be credited. | |||
| A Full Range of Services | |||
| When you choose Union Bank of California to process your payments, you'll enjoy a number of association management services, including: | |||
| •
Fully automated lockbox service • Convenient electronic collections options • Expedited availability of funds • Electronic transmission of payment data, compatible with your accounting software to ensure fast, accurate updating of homeowner accounts • Optional daily, weekly or monthly activity reports • Pre-printed payment coupons designed to ensure fast, reliable processing • Assessment "hold" service designed to prevent the processing of payments that need to be stopped |
|||
| Our Expertise and Commitment to Service Make the Difference | |||
| Union Bank of California
has a long-established record of delivering quality service. Our experience
and understanding of the HOA industry, specialized customer service,
highly trained operations staff, and unique processing capabilities
combine to meet our continuing commitment to delivering service at
the highest possible level. With Union Bank of California, you can
count on: Reliable, Accurate, Timely Processing: Your
assessments are processed by representatives who have been specially
trained in homeowners association Lockbox processing. Our operations
staff has a proven record of consistently meeting customer processing
deadlines with a high degree of speed and accuracy. Accelerated
Check Clearing: The rapid collection of checks - and the resulting
accelerated availability of your funds - is a Union Bank of California
strength. The Option to Eliminate Checks and "Go Electronic: " You can offer homeowners the option to authorize electronic charges to their bank accounts for the payment of assessments. We post these charges via existing automated clearing processes, credit the association account, and make the transaction details available for your use. Services Customized for Your Specific Needs: Working together, we will analyze your needs and design a program for you. A HOA Lockbox specialist will be trained on the specific details of your account, ensuring your homeowners assessment payments will be processed according to your instructions. Reporting to Meet Your Requirements: Daily assessment reports can be delivered in a number of ways, including email, first class mail, overnight delivery, courier service or electronically via file download. Superior Customer Support: Union Bank of California's HOA Lockbox Service offers you flexible, high-quality service for your assessment collection needs. You'll be served by specially trained, professional staff who will respond to your inquiries promptly and efficiently. |
|||
|
To learn more, email an HOA Banker. |
|||
| ^ back to top | Home | ||