Municipal Sweep Account
With our Municipal Sweep Account, we make your money grow – every day.
While you’re busy working, we can automatically sweep your funds into investments, using a Repurchase Agreement* structure. The funds are used to buy a fractional interest in AAA-rated government-issued securities owned by Merchants Bank. The bank buys back those securities the next day, with interest.
We offer customized services to meet your specific needs, and a variety of programs, including:
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Investment Sweep Program
- Uses the Repurchase Agreement structure to invest your money
- Investments are repurchased the next day with interest
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Funds Concentration
- Cash concentration allows you to consolidate cash into a single account, to improve cash control and visibility
- Ability to set target balances in each account
Our Cash Management services help you maximize interest earnings and minimize expenses.
For more information, Contact Us.
*Repurchase Agreements are not bank deposits, are not insured by the FDIC and are subject to investment risk, including possible loss of the principal amount invested.
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Questions?
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Do I need to live or work in Vermont to open an account or loan?
Do I need to live or work in Vermont to open an account or loan?
Merchants Bank opens accounts or loans for people living or working in Vermont or communities adjacent to our offices.
Routing Number
The bank’s routing number is: 011600020
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