Sweep Accounts

Commercial Savings Bank Sweep Accounts are accounts for commercial customers designed to earn interest on excess funds.

On a daily basis excess funds above a predetermined balance will automatically be swept from your business checking account into the interest-bearing Sweep Account. The Sweep Account is a non-FDIC-insured checking account collateralized by securities pledged by the bank.

You will receive a daily notice providing your balances and information about the security being pledged on your behalf. You will also receive a monthly combined statement for these accounts.

Commercial Savings Bank Sweep Accounts:

  • Not FDIC insured.
  • Not insured by any government agency.
  • Not a deposit of the bank.
  • Not guaranteed by the bank.