Online Payment Site FAQs
We are excited to announce that beginning January 1st, 2019 CAM will be entering into a new partnership with Alliance Association Bank (AAB). Each year we evaluate the changes in the banking industry against the best interests or our customers and company. This year, we discovered Alliance Association Bank (AAB) – a national institution which has developed a banking program that works exclusively with common interest communities (HOAs) and is designed to meet those unique needs. In reviewing banks and their payment processing facilities, particular care was taken in selecting Las Vegas, Nevada as our new lockbox location. Although Las Vegas does not typically strike someone as the premier location for payment processing, the city is ideally suited for this job. The dry weather is good for payment processing machinery and the geographic location is ideal for limited/no natural disasters.
AAB provides community associations with banking options that fit the unique needs of our industry. They offer a full range of services designed for our industry’s specific needs including:
- Lockbox service of all owner payments (will be a PO BOX address in Las Vegas, NV)
- Free ACH for homeowners (used as direct debit for payment of association fees; putting each homeowner in charge of their payments and HOA statements.
- Credit card (3%) or One Time and Recurring eCheck ($5 flat fee) payments of association dues via our www.camkc.com website. (located on the Home page, under Payment Options).
All homeowners will receive a coupon book (for monthly dues) or statement with perforated coupon (for annual and quarterly dues) in the December preceding the next calendar year (or in May for associations with a mid-year payment schedule). If you have not received a coupon book or statement, please contact our office for one today! AN ACCOUNT NUMBER AND HOA ID WILL BE NEEDED FOR ALL LOCKBOX CHECKS. IF YOU ARE UNSURE OF THESE NUMBERS, PLEASE CONTACT OUR OFFICE.
The association payment coupon going forward will contain an OCR scan line to improve the accuracy and speed of processing payments and crediting accounts.
As technology continues to improve, we at CAM are trying to take advantage in any area which will help the associations we manage. We believe that the move to AAB Bank will allow us to further assist our boards and association members in remaining fiscally responsible.
Our goal to provide you with the best HOA experience not only continues but is the reason we will be undergoing these exciting changes. We thank you for the opportunity to continue to serve your HOA and look forward to improving the experience for all members in the coming year.