Sweep Repurchase

Commercial Sweep Account

For the convenience of automatic money management while receiving the maximum return, this account assures your collected deposit balances are accessible, yet earning at the same time.

Our sweep account allows pre-set target balances to be maintained daily. Any funds on deposit in excess of that amount are transferred automatically to a repurchase agreement. Should the balance in the checking account fall below the target amount, money from the repurchase agreement will be automatically transferred back in to the checking account.

The target balance in the checking account may be set as low as zero, and all transfers are made in $1,000 increments.

The sweep account can be activated with a minimum deposit of $25,000.

Repurchase agreements are secured by bank investments and are NOT FDIC insured.