Investment products to boost your business.
Passumpsic Bank’s Non-Deposit Services are available to ensure you have all options available to you as you make decisions affecting your business’s future.
This service gives you the opportunity to earn interest on funds that would normally lie idle in your business’ checking account. With Sweeps, you can earn interest on funds that would normally lie idle in the business’ checking account. Funds in excess of those needed to support daily activity are automatically swept from the checking account into a savings account or money market.
- Monthly statement
- Excess funds are used to maximize earning potential
- Service may be terminated at any time
- Eliminates need to monitor accounts daily for investment decisions to meet cash flow needs.
Repurchase Agreements (With Sweep feature)
This is an investment tool used by many companies, municipalities and organizations to offset any presumed risk when investment dollars exceed the $250,000 FDIC deposit limits.
- A repo is secured by a U.S. Treasury or government agency security
- Terms can be from as short as 1 day to as long as 1 year
- Automatic renewal
- This is not a deposit and is not insured by the FDIC
- Minimum balance of $50,000 required
- Fee for daily sweep may apply