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Updated over 8 years ago on . Most recent reply

Getting interest on reserve account with associations
Hello,
I'm on a board and am looking to help improve some of the balance sheet. The association doesn't hold reserves, deferred maintenance, and escrow in interest bearing accounts.
Are we allowed to hold these monies in interest bearing accounts so long as they are liquid? Also, I'd be interested to hear recommendations on banks that offer competitive rates.
Thanks