Sweep Accounts

Make idle excess balances at day-end an investment opportunity. With the CoreFirst Sweep Account, we can automatically transfer excess funds into an overnight investment. If funds are needed in the account the next business day, they are automatically placed back into the checking account. Certain restrictions apply when opening this account.

Details:

  • Collected funds above an established “peg” balance are automatically moved to an overnight repurchase account
  • Interest rate is subject to change
  • A daily statement is provided each business day itemizing the current balance, the amount of interest paid, and the collateral assigned
  • Money in the repurchase agreement is not insured by the FDIC. 

Benefits:

  • Completely automated no need to worry about making transfers
  • Preserve the liquidity of your assets
  • Increase your investment income by earning interest on the maximum amount of funds

 Have more questions?

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Transactions restricted by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) are prohibited from being processed through this commercial account. This prohibition became effective on June 1, 2010. Additional information can be obtained at 1.800.280.0123.

Investment, Insurance and Advisory products:
Are Not FDIC InsuredAre Not Bank GuaranteedMay Lose Value
Are Not DepositsAre Not Insured by Any Federal Government AgencyAre Not a Condition to Any Banking Service or Activity