Sweep Accounts

Smarter cash management starts here. A sweep account moves money automatically between your business checking and the account or line of credit you choose, so surplus balances earn more or pay down debt while your operating account stays funded.

Improving your liquidity and operational efficiency

Sweep Accounts from CoVantage Credit Union help you automatically transfer surplus balances from your business checking account to a deposit account or line of credit—helping you reduce interest costs, pay down debt, and maximize earnings. With thresholds you set and transfers that run on their own, your excess cash gets put to work without daily balance checks or manual transfers. It's automated cash flow management that keeps working capital available for payroll, vendor payments, and everyday business expenses.

Automatic Balance Transfer
Automatically transfer excess funds from checking to a deposit account or line of credit
Smart Balance Thresholds
Set predefined criteria (target balance or threshold) to trigger transfers
Hands-Free Fund Movement
Eliminate manual work—funds move automatically when thresholds are met
Optimize Your Cash Flow
Maximize daily earnings while maintaining optimal cash flow
Operational Liquidity Protection
Ensure funds are available for payroll, operations, or other business needs

How It Works

Set your target balance or threshold. When your checking account exceeds that amount, surplus funds are automatically transferred to your chosen deposit account or line of credit. This helps you pay down debt, save on interest, and keep your business running smoothly—without manual intervention. Sweep Accounts are set up through our commercial team as part of CoVantage’s treasury management services.

Why Choose Sweep Accounts?

  • Reduce interest costs by paying down debt automatically
  • Maximize earnings on idle balances
  • Maintain liquidity for day-to-day operations
  • Save time with automated transfers and fewer manual tasks
  • Customize sweep thresholds to fit your business needs
Sweep Accounts vs. Manual Transfers
  Sweep Accounts Manual Transfers
Automation Transfers happen automatically based on your criteria Must initiate each transfer yourself
Efficiency No manual monitoring or action required Requires regular oversight and action
Interest Savings Reduces interest costs by paying down your line of credit faster May miss opportunities to reduce interest
Earnings Maximizes daily earnings on excess funds Idle balances may not earn as much
Liquidity Ensures funds are available for payroll and operations Risk of insufficient funds if not monitored

Ready to optimize your cash flow?

Talk to a CoVantage Commercial Lender to learn how Sweep Accounts can work for your business. You can also contact us or visit a local branch in Wisconsin, Michigan, or Illinois to get started.

Call 800‑398‑2667