If you are a local property management company, why do my payments go to Phoenix, AZ?

We are entirely local and only practice on the Missouri side of St. Louis Metropolitan Area. Banking services tailored specifically for homeowners and condominium associations are very specialized, and no such bank exists locally. While we believe in banking locally and supporting our local economy, and we worked with a local business bank for several years on that basis, eventually our company’s needs outgrew what the local bank could accommodate given our accounting processes.

 

Your community’s operating checking account, where your assessment payments are deposited to, is held by First Citizens Bank, and they are based in Phoenix, AZ.

/ In / By Adam Jenning / Comments Off on If you are a local property management company, why do my payments go to Phoenix, AZ?