Banking for Community Associations.
a relationship service
At North State Bank, we have made it our business to understand community associations and how they work. Our products and services are designed to fill the specialized banking needs of individual associations or management companies. These products enable the customer to focus more on the needs of the association while streamlining the backroom accounting. We are a team - our interest is in what makes you successful.
For a full introduction to community association banking at North State Bank, contact Greg Asbelle:
gasbelle@northstatebank.com or (919) 645-3190.
Products & Services
| Lock Box Service |
Our in-house service provides efficient processing of your incoming payments. Homeowner payments are mailed to a post office box address from which we collect and process items each weekday. We provide a payment data file that can be downloaded into your accounting software, thereby automating the posting process. An image archive of processed items is readily available on-line. This service provides a secure and efficient means of collecting and posting incoming payments, increasing cash flows and access to funds. |
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| E-statements |
Receive electronic monthly bank statements via secure email at the first of each month. You can reconcile your accounts earlier, email statements to your community associations, and store statements electronically. |
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| ACH |
Our cash management module of NetBanker enables you to initiate ACH transactions, such as preauthorized electronic debits for homeowner or other incoming payments. You can also initiate electronic credits for payroll, vendor, tax and other outgoing payments. This reduces paper check handling which provides more secure, efficient and effective payables and receivables processing. |
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| Wire Transfer |
Through our cash management module of NetBanker, you can initiate wire transfers quickly and securely. |
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| DepositScan |
Deposit checks into your account until 7:00 p.m. EST - right from your desk. This service reduces or eliminates trips to the bank. |
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| Community Management Toolbox |
The Toolbox is a fully integrated program for managing multiple associations - small or large - that is designed to work seamlessly with our Lockbox Service. Management components include:
- Accounts Payable/Receivable
- Automated bank account reconciliation with North State Bank
- General Ledger (chart of accounts)
- Architectural review management
- Homeowner information management
- Association information management
- Work order management
- Collections tracking
- Electronic payment (drafting) module
- Robust reporting and email features
- Payment coupon management
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| Online Banking |
Through NetBanker, North State's online banking service, you can view your account balances and transactions anytime from virtually anywhere. Initiate electronic funds transfers, stop payments, and transfer funds from anywhere you have Internet access. |
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| CDARS |
Through CDARS (Certificate of Deposit Account Registry Service), we are able to offer you CD investments over $100,000 with up to $50 million in FDIC insurance. This allows you to consolidate investments for your community association accounts into one bank with one 1099 report per owner. |
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| Loans |
We are very competitive and responsive to the lending needs of community associations and property management companies. Deposits from associations are re-distributed throughout the state by way of capital improvement and development loans. |
Our management team's experience with property management and community associations dates back to 1988. We are very active in and supportive of the N.C. Chapter of Community Association Institute (CAI). Sandra Temple, executive vice president of North State Bank, serves as President and Greg Asbelle, senior vice president of North State Bank, serves on the Legislative Action Committee (LAC). Sandra also serves on the banking committee of CAI-National.
