Cedar Management Group is transitioning to Alliance Association Bank.

Beginning November 1, 2022, Cedar Management Group (CMG) will transition from First Citizens Bank (FCB) to Alliance Association Bank (AAB).

There will be no additional costs associated with the transition apart from the usual bank fees.

What Homeowners Can Expect

We can assure you that making this transition is the best possible choice for homeowners. We are also here to assist you if you have questions about how your HOA dues are to be paid from now on.

FCB accounts will remain open for several months following November 1st.

Owners will need to create a user account in the online payment system to track and schedule payments.

How owners can pay with Alliance:

  • ACH. Owners who are already on ACH payments will receive an email the week of 10/17 with a link you will need to click. Clicking on this link will automatically let the new bank (AAB) process their ACH payments. ACH payments will remain free only if owners set it up with a checking account. This is only for people who are already signed up for ACH draft. If you had ACH draft set up with First Citizens and did not get an email from AAB by 10/21 please email alliance@mycmg.com
  • eChecks. Owners can also pay through eChecks, which will be available through the AAB portal.
  • Credit or Debit Cards. Owners can also set up one-time payments using credit cards or debit cards.
  • Checks. Owners can also pay using physical checks by mail.

Alliance Association Bank is a trusted bank serving more than 1,000 HOA management companies.

 

Understanding the Benefits of Moving to AAB

Nobody likes change — unless it’s for the better. And this move to Alliance Association Bank is definitely for the better.

AAB is a bank that focuses solely on community associations. That means getting specialized services geared specifically towards HOAs like yours.

This new partnership is the product of an extensive search for the best bank to handle our clients’ funds.

 

Some of the benefits you can expect from this transition include:

  • Free association banking
  • Several online payment options for homeowners
  • The option to set up one-time payments or recurring payments — so you can avoid incurring late fees!
  • A user-friendly homeowner portal with everything you need
  • Secure transactions

Except for a few things like account setup and permissions, homeowners don’t need to do much. Cedar Management Group will take care of everything!

Frequently Asked Questions

When is the effective date of the transition?

The transition will take effect on November 1, 2022. But, accounts under First Citizens Bank will remain open for several months afterward.

Will I have to pay additional fees for the transition?

Cedar will NOT charge you any additional fees for the transition of banks.

What do I need to do?

Aside from setting up an account (for recurring payments) and following the instructions sent via email (for ACH payments) – nothing. You don’t need to do anything else during the transition. Cedar will take care of everything for you.

Do I have to set up a user account?

A user account is needed to retain payment history and schedule payments. But, you can make one-time payments without a user account. Don’t worry, though. Setting up an account is easy.

 

Create an Account Here

 

Can I pay using credit cards?

Yes, you can set up credit card payments through the Alliance portal, but this is only for one-time payments. You can’t set up recurring credit card payments. There is also a 3% fee.

Can I pay using debit cards?

Yes, you can set up debit card payments through the Alliance portal, but this is only for one-time payments. You can’t set up recurring debit card payments. There is also a flat $5 fee.

Can I pay using eChecks?

Yes, you can set up eCheck payments through the Alliance portal. The fee for one-time eCheck payments is $1.95, while recurring payments are free.

Can I pay using ACH?

Yes, owners who are already using ACH will only need to click a link on an email we will send them. This will give permission to set up ACH payments with the new bank and allow ACH to continue without interruption.

ACH will only remain free if owners set it up with a checking account. It can’t be set up with a credit card or debit card.

Can I pay using physical checks?

Please use the following address for dues and assessments payments:

HOA Name
Care of Cedar Management Group
PO Box 621296
Orlando, FL 32862-1296

What if I have additional concerns or questions?

Please contact us at alliance@mycmg.com or call our office at (877) 252-3327.