Monday, September 06, 2010

Sweep Accounts


A Sweep Account is designed to give business customers the opportunity to invest excess funds from their non-interest bearing commercial DDA into an interest-bearing sweep account. Federal regulations prohibit the payment of interest on commercial demand deposits and limit eligibility for NOW accounts (ownership of a NOW account is strictly limited to consumers, sole proprietors and nonprofit organizations).

FDIC what does this mean?

The recent news of turmoil in the banking industry has been overblown. Fears of a financial meltdown have been brought about by a few troubled banks, some of which are due to the mortgage crisis in some states and questionable lending practices. Pinnacle Bank wants to provide some resources and a brief explanation on what FDIC insurance is and who is protected. Pinnacle Bank is FDIC insured to protect our customers financial security. This information is being put forth to...

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FDIC TAGP

Pinnacle Bank is participating ...

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