Professional Service Accounts
Special accounts for specific situations
Jovia offers customized services for law offices and property management professionals, including Escrow, IOLA, Tenant Security, and Zero Balance Accounts—all with no monthly maintenance fees.
Jovia special account services include:
Escrow
Our Escrow options enable your business to hold funds in safekeeping pending the completion of a contract, transaction, or other obligation, such as for the use of real estate transactions. Escrow Accounts also encompass IOLAs, Tenant Security, and funeral parlor accounts.
Interest on Lawyers Accounts (IOLA)
Jovia is proud to be a Gold Partner with the NY State IOLA Fund. The IOLA program was created to increase access to legal services. The interest from lawyer trust accounts is pooled by NY State to provide civil legal aid to the poor and support improvements to the justice system. If you are an attorney looking for the right IOLA option, look no further!
Tenant Security Accounts (TSA)
Jovia is an active and competitive commercial real estate lender with local underwriters and decision-makers. If you are a residential or commercial landlord, we can offer you our TSAs to hold security deposits for each of your tenants, providing you the convenience to do all your banking in one place.
Zero Balance Accounts (ZBAs)
Jovia’s ZBA is a checking account in which a balance of zero is maintained. Funds to cover presented checks will be automatically transferred from your ‘master’ account. ZBAs are often referred to as "Sweep" accounts. Jovia offers this service to help you protect your operating account and provide easier accounting for your business.
Meet our Team
Ready to get started? Our team is here to help your business succeed. Discover how our personalized approach can help meet your financial needs by connecting with us today.
Ray Schwetz
Ray Schwetz
Raymond Schwetz has been an integral part of Jovia Financial Credit Union since 2008, bringing over 30 years of experience to his role as Assistant Vice President of Business Banking. His extensive background in financial services, commercial banking, and community outreach allows him to expertly manage Jovia’s Business Banking Unit.
Previously, Ray served as Community Relations Director, where he excelled at building relationships and promoting business development. His innovative approach and strong community ties make him a trusted advisor for members seeking tailored banking solutions.
Ray’s professional journey includes roles at New York Community Bank, TIAA-CREF, and WaMu/Chase. He’s also actively involved in local non-profits and hosts "Tower Talk," a business talk radio show on 90.3 WHPC. Ray’s leadership extends to his role as Vice Chair of Jovia’s Community Involvement Committee, where he supports numerous Long Island charities.
For personalized business banking solutions, connect with Ray and discover how Jovia can support your financial needs.
Cristian Reyes Valdez
Cristian Reyes Valdez
Cristian Reyes has been a valued member of the Jovia Financial Credit Union team since 2022, beginning his career as a Teller and quickly building a strong foundation in member service and financial operations. Through hands-on experience and a commitment to excellence, Cris has developed a well rounded understanding of business banking services and the needs of business members.
With a background in day to day account servicing, Cris is skilled in assisting business members with a wide range of banking needs. From business account support and transaction services to problem resolution and general account guidance, he is dedicated to delivering efficient, personalized service that enhances the overall member experience.
Connect with Cris and discover how Jovia can support your business banking needs.