Protecting Your HOA from Fraud and Embezzlement
Unfortunately, fraud happens in homeowners associations. No strategy will guarantee that your HOA won’t be a victim of theft or embezzlement, but your board can take reasonable steps to reduce […]
Yes, Association Banks Are Lending!
Published in the ECHO Journal, October 2009 The question most often heard by association bankers lately is “Are you making loans to HOAs?” The answer is a resounding “Yes”! A […]
Questions to Ask Potential Banks
Published in the ECHO Journal, June 2010 Selection of the banking relationship for a homeowner association is just as important as the choice of any other vendor and should be […]
How to Review Bank Statements and Monitor Your HOA’s Money
One of the most timely and efficient ways to keep track of association financial accounts is to properly review and reconcile bank statements. This includes implementing safeguards against fraud, monitoring […]
Questions to ask your Banker
Published in the ECHO Journal, October 2013 The selection of a banking relationship for your association is just as important, (if not the most important), as the selection of any […]
§5380 – Handling of Association Funds
A managing agent of a common interest development who accepts or receives funds belonging to the association shall deposit those funds that are not placed into an escrow account with […]
3 Reasons Why Your HOA Can’t Declare Bankruptcy
Why There’s No Protection for Members When Community Associations “Go Broke” You’re at a board of directors meeting of your homeowners association. Things have been happening around the community—not good […]
