For those larger commercial relationships with substantial excess cash balances, GSB offers the Federated Cash Sweep account that automatically invests that excess to maximize earnings.
For more information and other ideas to help your business, contact a GSB Business Banker:
Ken Douglas (847) 832-0301
Brett Denker (847) 832-0324
Mark Frighetto (847) 832-0340
Thomas A. O'Grady (847) 832-0489
Dennis Oster (847) 832-0369
Peggy Higgins (847) 832-0315
Maral Poladian (847) 832-0329
John Tofano (847) 832-0116
- Tied to a Business Analysis checking account, balances in excess of a predetermined target figure are swept into an interest-bearing, non-deposit investment.
- The investment choice is yours. Choose between one of three Federated Cash Sweep Funds: Federated Prime Obligations, Federated Government Obligations or Federated Tax-Free Obligations.
- Transfers occur 12:00 p.m. on regular business days. Deposits made after that time will be swept on next business day.
- Dividends accrue daily and are posted at month end.
- Monthly fee of $100