What is a keeper system?
A keeper system is a banking arrangement where a bank holds a portion of an HOA’s funds, making them available to the association on demand rather than the HOA managing every dollar directly in a standard account.
Why does a keeper system matter?
This kind of arrangement can offer convenience for boards that want funds readily accessible without managing multiple accounts, but it’s worth understanding exactly what fees and access terms come attached before relying on it.
When You’ll Run Into This
This usually comes up when a board is reviewing its banking relationships and comparing how different account structures affect access and cost.
