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Sweep Accounts

A simple and effective solution to enhancing your working capital strategy is to use our Sweep Services to automatically transfer excess funds from your checking account directly into the sweep option of your choice.
  • Money Market Mutual Fund or Interest Deposit Account (IDA) Sweep
  • Loan Sweep or Two-Way Sweep

Money Market Mutual Fund###DISCLAIMER:2_0 Money Swept### and IDA###DISCLAIMER:2_0 Not a Member FDIC### Sweep

If your objective is short-term investing, link your checking account to one of the nationally recognized government money market mutual funds with Federated Investors or Goldman Sachs, or an IDA with MUFG Bank. At the end of each business day, any collected balance above your target balance is swept from the checking account in increments of $1,000 into a treasury or government money market mutual fund, or interest deposit account.

Loan Sweep or Two-Way Sweep

Manage daily borrowing needs and reduce interest expense when you link your checking account with an MUFG line of credit###DISCLAIMER:2_0 Financing - Short###. Use end-of-day collected balances to pay down your outstanding loan or borrow as needed to maintain your defined target balance in your checking account. You can also link an investment option to your line of credit, creating a two-way sweep to maximize earnings potential on collected balances.

Talk to your Union Bank relationship manager about how sweeps generate earnings on excess balances.
tcm:9-41766 Contact your relationship manager or call Treasury Management Sales at
1-800-883-0285 for an in-person consultation.