Many small associations maintain a single bank account, usually because they have few transactions and perhaps low balances. HausFS has always recommended that associations maintain a separate, interest-bearing account for reserves. Now there is another reason to segregate those funds.
Banks are inquiring about controls on reserves funds when reviewing mortgage applications. A property may not qualify for a mortgage if certain controls are not in place. Opening a separate account for your reserves is an easy way to help facilitate sales in your building.