PR Newswire | Nov 16, 2021 11:01AM EST

11/16 10:00 CST

CIT Launches Amenities Payment Feature for Community Association Banking ClientsCreates efficiencies for HOAs and community association members through simple, secure payments NEW YORK, Nov. 16, 2021

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

Available to CIT Community Association Banking clients that use C-PropertyPay, the amenities feature allows residents to now 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 amenity items are separate transactions from dues and assessment payments. Funds are deposited directly into association accounts and reports are provided for fulfillment.

"We understand the unique needs of community association managers and their residents and the new amenities feature further reduces the need for multiple software programs and helps make payment processes easier," said Alan DeTata, president of Community Association Banking. "We are pleased to continue to advance our suite of digital solutions and the value they deliver for our clients."

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

About CITCIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS:Donna Choi212-461-5731donna.choi@cit.com

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SOURCE CIT Group Inc.