PUNTA GORDA, Fla. (May 23, 2022) â€” Gateway Management has partnered with American Momentum Bankâ€™s Association Banking division. The Punta Gorda-based company specializes in the management of condominium, townhome, cooperative and homeowner associations, and currently manages 63 associations in Charlotte, Lee, Sarasota and Collier counties.
Founded in 1980, Gateway Management has served local associations for more than 40 years. The second-generation family-owned business started as a real estate sales company and eventually transitioned to providing primarily association management services. Founder Eileen Ingels worked with General Development Corporation to manage many of the condominiums being built in Punta Gorda in the late â€˜80s.
Through American Momentum Bank, Gateway Management will have access to CINC Systems, the first internet-based integrated accounting and property management system for the community association industry. CINC partners with premier banks in each state for its integrated banking feature. American Momentum is one of the CINC partner banks in Florida.
â€œWeâ€™d been working with the same software system since the â€˜90s and were never comfortable enough to migrate to the newest version,â€ said Kristine Wishard, president of Gateway Management. â€œEventually, we reached the point where the software would no longer be supported, and we wanted to make the move to a web-based tool. It was a good time to connect with American Momentum Bank and learn about CINC.â€
CINCâ€™s all-in-one SaaS-based platform drives profitability for community association management companies through cloud-based accounting, state-of-the-art property management resources and full banking integration. The web-based dashboard enables associations to run accounting for clients and process in-house financials, track and manage violations and work orders, and much more.
In addition to the CINC partnership, American Momentum Bank will provide lock box service, remote deposit, and automated clearing house (ACH) payments and deposits. The bank also specializes in association banking, which was another selling point for Wishard.
American Momentumâ€™s association banking team has more than 60 years of combined experience serving associations in Florida. The bank offers a variety of competitive deposit products, specialized lending programs for capital improvements and insurance premium financing.
â€œOur associations are better served because they have access to a free website and the CINC web portal, which offers more transparency around their financials,â€ Wishard said. â€œAnd our staff has become more efficient at using the accounting systems and can accomplish more for our clients in less time.â€
About American Momentum Bank
American Momentum Bank, a Texas-chartered banking association with total assets of $2.8 billion as of March 31, 2022, provides comprehensive products and services for businesses and individuals. American Momentum Bank has 18 full-service banking centers in Texas and nine full-service banking centers in Florida. American Momentum Bankâ€™s strong capitalization, superior asset quality and experienced management teams position it as one of the premier banks in each state. Visit www.americanmomentum.bank to learn more.
About CINC Systems
CINC Systems is the largest provider of SaaS solutions for the community association industry. Founded in 2005, CINC Systems became the industryâ€™s first Internet-based integrated accounting and property management system. CINC Systems is backed by founder Bill Blanton, a third-generation banker, and Spectrum Equity. The company serves more than 20,000 homeowners associations and 2 million homes. Learn more at www.cincsystems.com.