Since 2013, FirstService Residential has proudly managed the Poinciana Villages, an unincorporated community of 25,000 homes and over 50,000 residents in central Florida. The Association, while entrusting day-to-day operations of the community to our team, opted to maintain full control of its financials.
The Property Manager, Mark Maldonado, and the Senior Vice President, Fernando Dominguez, both recognized the value that FirstService Financial could deliver through its cash management programs and banking relationships. In 2016, they began working closely with our Product Manager to help the Association’s Banking Committee understand that same value. FirstService Financial saw an opportunity to increase security for the Association’s funds while providing options to earn more interest income.
Recently, the Board of Directors has committed to moving all bank accounts, totaling $5,900,000, to partner banks—a move that will net over $15,000 annually in interest income.