For Profit Subsidiary of Non-Profit HOA

In order to run for our Missouri based 501c3 HOA board you are required to join an ancillary for-profit organization and pay a considerable fee to join. Those fees paid become a bank in which the for profit provides loans and makes investments. This organization is very secretive with their accounting which is complicated by the fact that their loans are in default by months and years. A case can be made for malpractice.
I have two questions: Is it legal to make you in-effect pay a fee in order to run for your HOA by forcing you to join a incestuous organization with a $1000.00 buy in?
Second, what rights do the not for profit HOA have in regards to reviewing the financial and other records of the for profit organization?

I may be incorrect in my terminology, the HOA itself is a registered not for profit.

Thom, an HOA can incorporate as a non-profit but they do not qualify as as a charitable organization such as a church. The Board members do not have to join any other non-profit nor pay any fee to be a Board member.