Money Management

Shifting funds can be a smart move
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Businesses have more money and more bank accounts. We can help manage both.

Maximize your cash flow
Sweep excess balances into interest-bearing accounts
Quickly transfer money between accounts

Business Online Banking makes managing finances faster than ever. But there’s only so much your staff can do. Let Union’s Treasury Management team help get the best possible returns for your money. We can enhance your cash flow, keep tabs on your line of credit and automatically “sweep” excess balances from checking accounts into interest-bearing investment vehicles.

Business Online Banking

Move money, handle payroll and check account balances quickly and efficiently.

  • Simplify your payroll process with direct deposits to employees’ bank accounts
  • Get instant electronic account updates
  • Pay vendors who can accept electronic payments through ACH (Automated Clearing House)
  • Perform domestic and foreign wire transfers
  • Transfer funds between various types of accounts
  • Place stop payments on checks

Repurchase Investment Sweep

Union’s Treasury Management staff sets a target balance in a business' operating account. Each day, any excess funds are transferred from the operating account to the repurchase account.

  • Eliminates time-consuming responsibilities of managing checking and investment funds
  • Interest is paid and posted on a daily basis
  • Repurchase accounts are not FDIC-insured
  • Accounts have a monthly fee with tiered rates
  • Businesses can set target balances that keep service charges to a minimum

Maximum Investment Sweep

As with Repurchase Accounts, our Treasury Management staff sets a target balance for a business' operating account. Each day, excess funds are transferred to an interest-bearing deposit account.

  • Eliminates time-consuming responsibilities of managing checking and investment funds
  • Interest is accrued daily and posted to the account monthly
  • FDIC-insured up to $250,000
  • Accounts have a monthly fee with tiered rates
  • Businesses can set target balances that keep service charges to a minimum

Line of Credit Sweep

Union's Line of Credit Sweep automatically moves your company's cash to where it benefits your business the most. Pay down your line of credit or replenish your business checking account.

  • If your business checking account balance falls below a target amount, funds are automatically drawn from your line of credit
  • If checking account levels are above the target amount, they are "swept" into your line of credit account to pay down your balance
  • The sweep reduces interest expenses and means your business is spared the hassle of making daily transfers between accounts

Zero Balance Account

Union's Zero Balance Account is used by corporations to eliminate excess balances in separate accounts and maintain control over disbursements. It’s especially advantageous for businesses that have multiple locations, each with its own checking account.

  • Alleviates the need to manually transfer funds to multiple accounts
  • Increases efficiency by automating the funds transfer process
  • Maximizes cash flow and reduces idle cash