Association Account Products
COMMUNITY ADVANTAGE® of Barrington Bank & Trust Company offers a wide range of financial services that can help meet your financial requirements today and in the future.
Operating Checking Account
The Operating Checking Account earns a competitive Earnings Credit Rate, which is applied to available balances maintained in the checking account. The earnings credit can be used to offset the cost of deposit and lockbox service fees, which are very competitively priced.
Reserve Advantage Money Market Account
This Money Market Account allows you to manage your cash flow by moving funds between your checking account and a FDIC-insured interest-bearing account. This account allows unlimited in person teller withdrawals and up to six preauthorized withdrawals each month (however, up to three of these withdrawals can be made by check). Interest rates are tiered which provides a higher yield with higher balances. The Regular Reserve Money Market account has a minimum balance of $2,500. The High-yield Reserve Money Market account has a minimum balance of $25,000.
Certificates of Deposit
We offer competitive rates and a variety of terms for our association customers with a minimum balance of $1,000 and a premium rate for accounts with a $100,000 balance. Current interest rates are available upon request. Through our sister banks in Wintrust Financial we can offer up to $1,500,000 of FDIC insurance. Be sure to ask about our rate specials!
MaxSafe® Reserve
MaxSafe Reserve, a new product designed for condominium, townhome and homeowner associations that value convenience and an unparalleled level of protection. MaxSafe Reserve is an innovative and unmatched investment alternative that provides up to 15 times the FDIC security of a normal reserve account.
In today’s volatile marketplace, the added security and convenience of $1.5 million in FDIC insurance per account means peace of mind. How can we offer this unparalleled level of protection? By depositing your funds across our 15 affiliated community banks. Fifteen banks equal 15 times the usual $100,000 level of FDIC maximum protection.
The Advantage Plus Account
COMMUNITY ADVANTAGE® is pleased to offer to your association the Advantage Plus Account, a complete package of banking products and services. This account is designed to be used by community association customers as a benefit to their unit owners. Setting up an Advantage Plus Account is easy - all you do is recommend the account to your unit owners and encourage them to visit a member bank within our affiliate community banking network to open the account.
Advantage Plus offers a valuable set of product discounts and other special features to your unit owners. It also gives them even more reasons to choose our community bank rather than a mega bank. By mutually supporting each other, we can all help keep our relationship strong in our mutual market.
The Advantage Plus Account includes the following features:
- Interest-bearing NOW checking account with no minimum deposit to open, no minimum balance requirement and no monthly maintenance fee
- Free first order of specialty checks
- Free 3 x 5 x 21 safe deposit box
- Free imaged checks option with CheckManager Plus®
- Free no-annual-fee STAR® ATM card or VISA® debit card
- Access more than 500 surcharge-free ATMs in the Chicagoland area
- 0.25% off consumer loans with a direct payment from your NOW checking account
- Special rates on home equity lines of credit for qualified individuals
- Free review of existing mortgages
- Free cashier’s checks and money orders
- Free traveler’s checks (single signature only)
- Free online banking and bill pay
The Advantage Plus Account is available to unit owners of associations that bank with our affiliate community banks. To offer Advantage Plus at your association, call or visit one of these participating banks today.
For more information, call our Trusted Industry Experts at (847) 304-5940 or email service@communityadvantage.com .
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