Sweep Accounts

Smarter cash management starts here. Sweep Accounts automatically move excess funds from your business checking to a deposit account or line of credit, helping you reduce interest costs, lower debt, and increase daily earnings—while keeping the liquidity your business needs.

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 daily earnings. With customizable thresholds and automated transfers, you’ll maintain optimal liquidity without manual effort. It’s a smart way to improve operational efficiency and ensure funds are available when you need them.

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.

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 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 debt 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 when needed 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.

Call 800‑398‑2667