Preferred Banking and Insurance Programs Deliver Added Value
We offer preferred banking services to your community through our financial services affiliate, FirstService Financial, Inc. FirstService Financial designs and administers high-quality, competitively priced banking and insurance programs exclusively to clients of FirstService Residential.
FirstService Financial has executed more than $1 billion in financing transactions since 2003. By leveraging its portfolio of 9,000 clients, the company can negotiate the best pricing with quality vendors, yielding significant cost savings to our clients each year – an average combined savings of $7.5 million in operating account service fees each year. In addition, FirstService Financial has developed an algorithm to provide underwriting for every FirstService Residential-managed building.
FirstService Financial’s Cash Management team is capable of tailoring both short- and long-term strategies to meet your needs. These are designed to replace lower-rate funding accounts (brokerage-based money market accounts, sweeps, etc.), reduce ongoing security and tracking burdens, improve asset liquidity and maximize interest revenue. Additionally, further client savings are available through FirstService Financial’s use of leading-edge technology to handle its high volume of monthly transactions.
FirstService Financial affiliate FS Insurance can provide FirstService Residential clients the broadest and most cost-effective risk coverage products in the market today. These provide stability and pricing by AM Best “A-rated” insurers. FS Insurance writes the insurance for over 2,800 North American locations each year, delivering above-average and producing loss ratios ranging up to 90% below market average.
Created by accessing over 20 years of historical data, the company’s proprietary insurance products demonstrate to carriers that FirstService Residential clients enjoy loss experiences significantly below market. This results in significantly higher value for our clients.
Although selecting to use FirstService Financial’s banking and insurance programs is optional, many of our associations choose to take advantage due to the high quality and added value they offer.
Lockbox and electronic payment options
Cash management and investment services
Debt placement services for associations
Insurance policy review/gap analysis
Association policy placement services
Property and casualty programs
Directors and Officers (D&O) and fidelity proprietary products