How does co-op homeownership differ from owning a condominium unit?
When you own a co-op, you do not actually own the rooms that comprise your unit. You own shares in the overall ownership of the building(s). These shares are prorated on the total square footage of your unit. In condominium ownership, you actually own the interior space of the rooms that comprise your unit, while the condo association owns the lend, public areas and infrastructure of the building(s). Return to Top How frequently is my NCB information updated? NCB, updates all customer information nightly for Online Banking. If you access “The Cooperator Line” 24-hour telephone banking system (toll-free: (877) 840-0846), or contact our customer service department, which is online and real-time, your account information is updated immediately to reflect all account activity. Return to Top What are monthly costs for a co-op apartment? Known as a monthly fee, maintenance fee, common charge or carrying charge, this is the pro-rata share of actual operating costs, underlying mortgage princip
