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| Additional
Control of Your Funds |
Current
Sweep Rates Click Here
Our Sweep Account will benefit our
larger deposit customers who want to earn interest on
their excess funds without having to conduct their own
transfers.
Swept funds are not deposits and
therefore are not insured by the FDIC.
Click here
to contact a Loan Officer to obtain more information on
our sweep accounts. We'll reply shortly. |
| The
information below is the Interest Rate Schedule on swept
funds balances: |
| Funds
up to $75,000 |
50%
of 90 Day Treasury Bill Discount Rate* |
| Funds
up to $1,000,000 |
90
Day Treasury Bill Discount Rate* |
| Funds
over $1,000,000 |
.125%
over 90 Day Treasury Discount Rate* |
|
| *The
rate will be effective every Thursday based on the most
recent "Week Ended" rate published on the previous
Tuesday under the "Money Rates" section of the
Wall Street Journal. |
| Interest
will be accrued daily on the funds in the Sweep Account
at only one of the above rates, depending on the balance
at any particular day. For example, if $75,000 is swept from your account, the rate paid on the entire $75,000 will
be at the "Funds up to $75,000" rate. If $80,000
is swept, the rate paid on the entire $80,000
will be at the "Funds up to $1,000,000" rate. |
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