Frequently asked questions


As part of the FirstService family of companies, we work exclusively with FirstService Residential’s managed communities and associations.
FirstService Financial is a subsidiary of FirstService Corporation that provides best-in-class financial services to condominiums, cooperatives, and homeowner associations managed by FirstService Residential. We add value to the client relationship by satisfying an existing need for financial services and insurance products that allows the client to fulfill its fiduciary responsibilities.
Financial services for our clients include banking and debt placement solutions that allow them to meet their fiduciary responsibilities as board members while also providing superior value.
Insurance products consist of the necessary insurance coverage an association should purchase to protect itself from unexpected losses. Most common coverages purchased are property, general liability, umbrella, crime, directors and officers, and workers’ compensation.
We create value for our clients through advisory services, customized banking and cash management solutions, proprietary insurance products, and assistance with the placement of annual insurance programs.
Most of our services are offered at no additional cost. There are certain loan and debt placement products that may incur a separate fee, which we will always disclose prior to purchase. Please contact your local FirstService Financial representative for details.
No, the programs and services are not mandatory; however, most clients decide to take part because of the added value that is delivered.
FirstService Financial offers cash management, insurance, and lending programs.
Feel free to contact us and we’ll get back to you as soon as possible!

Cash management and treasury solutions

Utilizing our cash management program aim to provide higher interest rates, savings on fees, and increased security on investments. FirstService Financial will provide oversight of clients’ funds and can assist with reporting and management of those funds.
With an integrated approach to long-term reserve fund management, we provide multiple financial products through various banking institutions aimed to meet our clients’ liquidity needs while maximizing interest yield and principal protection.
We distribute our clients’ funds across a full range of FDIC-insured cash management products. Upon request, we can work with our banking partners to provide private insurance on any funds that exceed FDIC limits. We also provide our clients with enhanced fraud controls to protect their funds.

We have partner banks throughout North America that have been selected based on client location, industry focus, and specific needs. Each bank meets certain criteria that FirstService Financial has identified:

  • Top quality national banks and focused regional banking partners (all FDIC insured)
  • Financially strong, thriving organizations of a suitable size to handle FirstService Residential client business
  • Banks who possess enhanced cash management platforms
  • Well-placed, accessible relationship management teams focused on our industry and FirstService Financial’s overall relationship
  • Excellent, market-leading rates on balance
  • Excess deposit insurance augmentation

FirstService Financial manages these focused relationships closely to ensure terms, service levels, and transaction processing capabilities are up-to-date and the best available.

Generally speaking, FirstService Financial's overall size and strong relationships with partner banks enable us to obtain higher interest rates and lower operating fees. The cost of banking through FirstService Financial is lower due to our efficiency, refined set of standard operating procedures, and ability to act as relationship managers, thus lowering transactional banking costs. Ultimately, these savings are passed on to our clients.
In cash management the rates that banks offer directly to customers are typically lower than the rates that FirstService Financial is able to obtain. As an added service, we can also provide a cash management analysis that will compare your current bank rates versus our bank rates. Our clients will receive the best rates available to them.
No, our clients will still maintain complete control of their funds. Accounts are opened in the association's name with their respective tax ID. Boards will always have control and the opportunity to review and approve our recommendations before making any decisions.


Debt placement is the process of assisting our clients with securing new loans and refinancing their existing loans.
Yes; however, FirstService Financial is able to secure loans with lower interest rates, lower closing costs, and more flexible terms compared to what our clients can obtain directly with the same lender. We make the entire process easier for our clients.
Yes. In fact, a significant portion of our business is refinancing and restructuring clients’ existing debt.
We will assist you in the loan application process and simplify a multiple bank approach. We aggregate the credit information on the property, summarize key financial metrics and distribute to various lenders who, in turn, provide us with standard term sheets to evaluate a suitable financing partner.
The process will vary depending on multiple factors, including the size of the loan, the financial condition of the association, and the approval process prescribed within the association’s bylaws and other formation documents.
By working closely with banks and leveraging our size, we are able to obtain rates that outperform the market. Our expertise and high volume of annually completed condominium and cooperative loan transactions allows us access to the best rates available at the solicited financial institutions.


Our goal is to add value to the client relationship. FirstService Financial created FS Insurance Brokers, a fully licensed insurance brokerage, to assist clients with their annual insurance renewals and to offer industry specific insurance products that satisfy the unique demands of community associations. With a longstanding commitment to management education, mitigation, and control, we have the ability to create superior programs with coverage at a reduced cost.
All insurance programs and services are administered through FS Insurance Brokers, a wholly owned subsidiary of FirstService Financial. As a licensed broker in both the U.S. and Canada, we work with a select group of full-service insurance brokers experienced in this industry, and with our property management teams in the insurance procurement process on behalf of our clients.
We work with various insurance brokers throughout the U.S. and Canada. Brokers are chosen based on our clients’ geographic location and specific needs, as well as the expertise, market access, ethics, and service excellence of the brokers themselves.
Our priority is to evaluate our clients’ current insurance products and ensure that they are adequately covered. We will conduct reviews of your existing coverage to identify any gaps or issues, as our industry expertise provides a thorough understanding of the intricacies and details of insurance policies. With that said, we will also seek to save money on our clients’ premiums when possible. Our overall size and risk profile typically enable us to deliver products and solutions at lower prices than the open marketplace.
Yes. FS Insurance Brokers is also a program administrator with a team that currently underwrites several proprietary offerings.
Designed by FS Insurance Brokers and available exclusively to FirstService Residential managed clients, our proprietary products match the specific needs of condominiums, cooperatives, and homeowner associations.
By utilizing the superior risk profile of FirstService Residential, we are able to create best-in-class insurance products at competitive rates. Products include coverages for fidelity, environmental, directors & officers, among others and are designed to ensure that clients have no gaps in their policies.