Exclusive Financial Services Deliver Added Value
Our financial services affiliate, FirstService Financial, Inc. (FFI), offers comprehensive financial services exclusively to clients of FirstService Residential companies. FirstService Residential manages 6,000 associations in North America, representing over 1.5 million homes and more than $6 billion in operating budgets. This gives FFI the opportunity to leverage the global purchasing power of FirstService Corporation to deliver added value to our clients by providing specialized banking and insurance programs. While FFI’s services are not mandatory, many of our associations choose to participate because of the quality and added value they deliver.
FFI’s financial services include:
- Reserve Program – Designated programs provide above-average interest rates on reserve, capital improvement and escrow accounts
- Lockbox Program – Industry-leading, affordably priced lockbox service programs provide seamless collections for monthly payments, with coupon, paper ACH and online payment options
- Cash Reserves Program – Specially designed for homeowners associations and condominiums, FFI’s Cash Reserves Program offers communities significantly higher earnings than savings or money market accounts, with immediate access to funds
- Lending Services for Associations – As an agent for affiliates, FFI assists association in fulfilling their financing requirements with flexibility and certainty, facilitating or assisting in loan placements in excess of $500 million for cooperative, condominium and homeowners associations
- Commercial Insurance Products
FFI has been bringing value-added services to our affiliated management companies across North America since 1997. FFI merged our commercial and residential property management expertise with Worthington Insurance Agency, a full-service insurance brokerage company, to help clients manage the complex insurance purchase and loss mitigation process. Worthington continually works with insurance carriers to increase the number of participants competing in a marketplace and/or create new products that meet the needs of management clients.
- Premium Financing
FirstService Financial Premiums, Inc. (FFIP) is a specialized finance company providing premium financing for our commercial insurance policies. FFIP offers competitive interest rates and terms to properties managed by FirstService affiliates.