Deposit/Transaction Sweep Accounts

From income to payments, we provide the accounts you need to manage your cash flow. Convenient sweep arrangements will make sure your money is where you need it and help you earn interest on the excess balances in your account every day.

  • Concentration Account
    • Receives deposits, then funds operating account(s), investment account and line of credit.
  • Operating Account
    • For daily operations including payroll and accounts payable
    • May serve as the Concentration Account
  • ZBA - Zero Balance Account
    • Maintains a $0 balance.
    • Funds transferred from the Operating Account as required.
    • Typically used for payroll and accounts payable.
  • Investment Account
    • Excess balances not required for daily operations.
    • Earns interest
  • Repurchase Agreement
    • For customers who maintain very large balances not covered by FDIC insurance.
    • Cannot pledge securities directly to a commercial customer.

Typical Sweep Arrangement

Deposit products offered by Iroquois Federal Saving and Loan. Equal Housing Lender Member FDIC. Member FDIC.

Insurance Products/services available through Iroquois Insurance, a subsidiary of Iroquois Federal.

Not a Deposit • Not insured by FDIC or any other governmental agency • May Lose Value • Not guaranteed by Iroquois Federal • Subject to risk

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