Put your idle funds to work. Have excess cash automatically swept into an interest-bearing account.

Details
  • Available to business customers with a Community Savings Bank business checking account
  • Keep your money working for you, automatically
  • Maintain target balances while maximizing interest earnings
    • Designate a target checking balance
    • Excess funds are automatically swept into and interest-bearing Investment account
    • Principal is automatically transferred back into your checking account the next day
    • Funds are swept back over to your checking should you fall short of your balance
    • Interest paid according to a daily balance level
    • Interest credited every statement cycle
  • Utilizes retail repurchase agreements (REPOS)

Sweep rates are market related and may change at any time. Each depositor will receive a daily confirmation by FAX, electronic or postal mail on securities used for securing their Corporate Sweep Manager. The fee for the Corporate Sweep Manager is $28.00 per month. This fee can be incorporated into your monthly account analysis or paid as a flat fee.

REPOS ARE:

  • NOT A DEPOSIT
  • NOT FDIC INSURED
  • MAY NOT BE INSURED BY ANY FEDERAL GOVERNMENT AGENCY
  • NOT GUARANTEED BY COMMUNITY SAVINGS BANK
  • MAY GO DOWN IN VALUE (IF APPLICABLE)