Sweep to Investment. These accounts take collected balances from your commercial checking accounts and transfer them to a designated fund for overnight investment. While the funds are not FDIC insured, it is an effective method to get the maximum return on your funds. Your target checking balance is constantly maintained while any surplus funds are automatically put to work for you. STAR offers two sweep account options: STAR Investment Sweep is a repurchase agreement, while Invesco Investment Sweep is a mutual fund investment product.
STAR Investment Sweep Account
Collected balances are swept daily into an overnight repurchase agreement. Your selected target balance is maintained while excess funds are earning a competitive rate of interest.
Mutual Fund Sweep Account
Collected balances are swept daily into Invesco Triple A rated Money Market Mutual Funds. Your target balance is maintained while excess funds are invested in market rate mutual funds.