Investment Sweep Accounts

Increase interest income by automatically investing excess funds.

With Investment Sweep Accounts you no longer need to spend time monitoring and transferring funds to take advantage of interest income opportunities. Sweep Accounts are an effective way to earn interest on otherwise idle cash. Each night funds not needed for disbursements automatically sweep to an interest bearing account. When funds are needed to cover disbursements they automatically sweep back. Select from a Money Market Sweep Account or a Repurchase Agreement Sweep Account.

                                                                                                                       

Money Market Sweep Account

In a Money Market Sweep funds sweep from a business checking account into an interest bearing Money Market Account. Funds will Sweep a maximum of three times per month.


FUNDS HELD IN THE MONEY MARKET SWEEP ACCOUNT OFFERED BY THE BANK ARE DEPOSITS AND ARE INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION UP TO THE MAXIMUM AMOUNT PERMITTED BY LAW.

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Repurchase Sweep Account

In a Repurchase Sweep Account funds sweep from a business checking account into another interest bearing checking account. The full amount of the balance between the two accounts is collateralized by U. S. Treasury and Government Agency Securities.


FUNDS INVESTED IN THE REPURCHASE AGREEMENT INVESTMENT OPTION ARE NOT DEPOSITS, ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION, ARE NOT OBLIGATIONS OF, OR GUARANTEED BY THE BANK OR ANY OF ITS AFFILIATES, AND ARE SUBJECT TO INVESTMENT RISK, INCLUDING LOSS OF PRINCIPAL.

                                                                                                                       

Benefits:

  • Increase interest income
  • Effectively manage cash flow
  • Minimum investment of funds
  • Maintain liquidity

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Contact the Treasury Services team to learn more.