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| We have five
kinds of sweep accounts:
The Small Business Sweep Account. The Zero Balance Sweep Account. The Line of Credit Sweep Account
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Sweep Accounts provide an automated cash
management vehicle which transfers your collected
balances to and from an investment account daily. A
compensating target balance is determined to offset
monthly checking account fees. A Zero Balance Sweep
Account may be avail- able, service fees would apply. Ask
for details. Numerous accounts may be included, providing
the capability to make use of all available idle funds.
The monthly fee associated with the Sweep Accounts
offered often is easily offset by the interest earned As its name indicates,
the Premier Sweep Account is our leading cash management money management
fund, paying our highest competitive liquid funds rate. Return to list of Sweep Account options. A Small Business Sweep Account is available; with the Small Business Sweep Account, to avoid fees, the Customer maintains a compensating target balance which is determined by the Bank. There is no monthly service fee for the Sweep Account, and the yield is a competitive market yield. Return to list of Sweep Account options. A Repo Sweep Account is also available as an investment option upon request. The repurchase agreements are backed by U.S. Government Treasury, Agency, and Mortgage-Backed Securities. With this option, the investment is 100% collateralized. This yield provides a competitive return. Return to list of Sweep Account options. A Zero Balance Sweep Account may be available, although service fees would apply. Ask for details. Return to list of Sweep Account options. A Line of Credit Sweep Account allows you to reduce interest expenses on an approved line of credit with the Bank. A commercial line of credit may be linked to a business checking account; automatic funds movement would occur daily to pay down your indebtedness upon collection of all deposits. If there is no line of credit indebtedness, collected sums would remain in the checking account, or funds may sweep into an optional investment account. With all Sweep Services there is complete automation providing audit trails on account activity. Have questions? You can drop by one of our offices, call us at 1-800-367-8862, or contact us by e-mail. |
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Vermont National Bank/First Savings of New Hampshire is ensured by the FDIC. Vermont National Bank /First Savings of New Hampshire is an Equal Housing Lender. |
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