Investment and/or Line of Credit “Sweep” Services

 

Union Community Bank offers Sweep Services to businesses, organizations and not-for-profit customers. This service turns excess balances into interest-earning funds, allowing your organization’s cash to work harder for you. On a daily basis, Union Community Bank will “sweep” collected balances from a business checking account into an investment account with a market rate of interest. When the checking account requires funds, they are swept back into the account. The transfers are electronic and automatic based on predetermined criteria.

You can choose an Investment Sweep, a *Line of Credit Sweep or a *Combination Investment/Loan Sweep. By utilizing our Sweep Services, we manage your cash balances, saving you time and increasing the earnings on your deposits. Contact your Union Community Bank representative for current investment options and rates of return.

* Requires an approved business line of credit

Summary:

  • Maximize earnings
  • Fully automated
  • Your target balance is maintained daily
  • Detailed statement showing daily transfer

Questions: Contact Customer Service