CIT Launches Commodity Payment Functionality for Community Association Bank Customers | New

NEW YORK, November 16, 2021 / PRNewswire / – CIT Group Inc. (NYSE: CIT) today announced that its Community Association Banking division has launched a new amenities feature in C-PropertyPay, a simple and secure payment system that enables residents and members of the association to pay their dues, rent and other costs of shared services online or via a mobile application.

Available to CIT Community Association Banking customers who use C-PropertyPay, the equipment feature now allows residents to pay for additional items such as pool keys, access cards and more in one system. For HOAs and community association managers, this capability streamlines the accounting experience, as Articles of Approval are separate transactions from membership fees and assessment payments. Funds are deposited directly into the association’s accounts and reports are provided for execution.

“We understand the unique needs of community association managers and their residents, and the new amenities feature further reduces the need for multiple software and makes payment processes easier,” said Alan detata, president of Community Association Banking. “We are delighted to continue to advance our portfolio of digital solutions and the value they provide to our customers. “

CIT’s Community Association Banking business is a national leader in associative banking services, including certificates of deposit, money market accounts and a variety of digital payment solutions, supported by the expertise of the Treasury and Services business. of CIT payment.

About the CIT

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to achieve their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a primary banking subsidiary, CIT Bank, NA (FDIC member, Equal Housing Lender). The Company’s commercial banking segment includes trade finance, community association banking, middle market banking, equipment and vendor finance, factoring, railcar finance, freight forwarding services. treasury and payments, as well as capital markets and asset management. CIT’s personal banking segment includes a national direct bank and a network of regional branches. Find out more at cit.com/about.

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SOURCE CIT Group inc.

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