FDIC logo
Canal Bank logo
Canal Bank logo

Menu

Log In

FUNERAL HOME

Young couple attentively listening to a professional man in a suit during a consultation in a wood-paneled office.

INDUSTRY SOLUTIONS

Simplify Prepaid Funeral Fund Management

Prepaid funeral arrangements require careful administration, accurate recordkeeping, and clear separation of funds. Canal Bank provides funeral service providers with a modern, digital solution designed to simplify these responsibilities while providing convenient access to account information and dependable reporting.

Elevate Your Firm's Financial Management

  • Simplify the administration of prepaid funeral funds
  • Maintain clear separation and organization of funds
  • Access account information and reporting when you need it

Financial Solutions for Funeral Homes

Prepaid Funeral Accounts

  • 24/7 online access to prepaid funeral account information
  • Online creation, maintenance, and closing of individual sub-accounts
  • Clear organization of funds by purchaser, beneficiary, funeral home, or other designated category
  • Reporting and transaction histories at the individual subaccount level
  • Automated interest calculation, tracking, and allocation
  • Automated statements and reporting
  • Bulk data upload capabilities for efficiently establishing or updating multiple prepaid arrangements
Traditional Method
Canal Digital Method

Convenient Management
(Individual account administration and branch visits.)

No.
(Secure digital platform with organized subaccounts)

Yes.

Easy Access
(Paper records, spreadsheets, and manual bank requests)

No.
(24/7 online access to account information and reporting)

Yes.

INTRODUCING

EscrowEdge

A secure digital platform for separating and managing your prepaid funeral funds

EscrowEdge provides funeral service providers with a modern, digital solution for managing prepaid funeral funds and the individual sub-accounts associated with those arrangements.

A better escrow experience.

  • Open, update, and close sub-accounts online
  • Store agreements, tax forms, and documents securely
  • Complete documents with electronic signatures
  • Create or update multiple accounts at once with bulk uploads
  • Customize workflows to fit your administrative process
  • Provide authorized beneficiary access when appropriate
  • Scale easily as your number of prepaid arrangements grows

With Escrow Edge You Can:

  • Easily manage prepaid funeral funds in one place
  • Keep funds clearly separated by purchaser or beneficiary
  • Track deposits, withdrawals, interest, and distributions
  • Quickly access balances, statements, and transaction details.
  • Reduce paperwork, spreadsheets, branch visits, and manual requests
  • Simplify reporting, documentation, and recordkeeping
  • Get hands-on setup and ongoing support

Manage Prepaid Funeral Funds
with EscrowEdge

EscrowEdge provides funeral service providers with a modern, digital solution for managing prepaid funeral funds and the individual sub-accounts associated with those arrangements.

EscrowEdge Offers Your Funeral Home:

  • 24/7 online access to prepaid funeral account information
  • Online creation, maintenance, and closing of individual sub-accounts
  • Clear organization of funds by purchaser, beneficiary, funeral home, or other designated category
  • Reporting and transaction histories at the individual subaccount level
  • Automated interest calculation, tracking, and allocation
  • Centralized electronic execution and storage
    of agreements, tax forms, and supporting documentation
  • Configurable workflows designed to support the institution’s account-opening and administrative requirements
  • Automated statements and reporting
  • A secure, scalable platform that reduces dependence on spreadsheets and manual account tracking

The Right Banking Partner Canal Bank + EscrowEdge

  • Responsive implementation, training, and ongoing support
  • A long-term banking relationship capable of supporting both current operations and future growth
  • A simple and efficient way to administer prepaid funeral funds
  • Clear separation and identification of funds maintained for individual purchasers or beneficiaries
  • Accurate tracking of principal, interest, deposits, withdrawals, and distributions
  • Easy access to balances, statements, and transaction information
  • Reduced reliance on paper records, spreadsheets, branch visits, and manual bank requests
  • Support for applicable documentation, tax-reporting, and record-retention requirements
  • Consistent processes for opening, modifying, transferring, and closing prepaid funeral sub-accounts
  • Flexible reporting that supports internal administration, customer inquiries, examinations, and audits

Talk with a Business Banking Specialist.

Business banking at Canal Bank. Our services work as hard as you do.

Let's Connect

Kari Guagenti

Business Relationship Manager / Vice President

NMLS #766796

5529 Main Street

Williamsville, NY 14221

Office:  716.458.3690 | Cell: 716.983.6375

[email protected]

Why Canal

Business

Personal

Wealth

Education

Support

Get Mobile App

Icon that reads GET IT ON GOOGLE PLAY"
Icon that reads: "Download on the Apple App Store"
Facebook-f Icon-linkedin-1

© 2026 Canal Bank, a division of Chemung Canal Trust Company, N.A. All rights reserved.
ABA Routing Transit #: 021301115
Toll-free: 800-836-3711

Logos for Member FDIC and Equal Housing Lender

Contact

Fill out the form below, and we will be in touch shortly.