Business Investment Services

Automated Investment Sweep Services

Contact a Business Specialist today to find out more!
410-558-4200
business1st@1stmarinerbank.com

How Your Company Benefits

With Automated Investment Sweep Services you’ll get:

Competitive Yields

Sweep accounts allow you to get a potentially higher rate of return on your money.

Daily Dividends

Money market mutual fund and repurchase agreement dividends are declared and paid daily. You can have these dividends automatically reinvested to continue earning interest, or you can receive a monthly cash payment.

Ready Access To Your Money

You have daily access to your cash so you can easily withdraw it when needed.

Convenience

By having your bank checking account linked to a money market fund investment account, you no longer have to juggle money between accounts.  Minimum balances are maintained automatically.

Diversification and Lower Risk

Repurchase agreements offered through 1st Mariner are backed by U.S. government securities, the safest of all investment choices. Money market mutual funds invest in a variety of securities, lessening the impact of fluctuations in any one security in your investment and thereby helping to reduce your risk.  

Professional Management

Your money market mutual fund sweep investment will be managed by Federated Investors®, one of the nation’s first money fund managers.  Federated is one of the “top 10” mutual fund managers in the U.S. based on assets under management, manages more than $130 billion in money market assets, and ranks among the top 2% of money market mutual fund managers.*

*Source: Strategic Insight, 8/31/04

How It Works

A 1st Mariner Sweep Account lets you get more for your money by connecting a primary cash account with an investment account.  Our Automated Investment Sweep service is the next best thing to an interest-bearing commercial checking account.  Here’s how it works:

Each day, 1st Mariner Bank monitors your company’s account balances and invests an agreed upon amount into an investment account; either a repurchase agreement or a Federated Investors® mutual fund. ** Repurchase agreements are backed by U.S. agency securities, making them one of the safest investment vehicles available. Several Federated mutual fund options are available.

Your company can establish a maximum balance to be invested, along with a minimum target balance that should remain in your primary cash account at all times. 1st Mariner Bank’s automated system does the rest. The transfer or “sweeping” of funds from your cash account into your investment account will occur on a same-day basis. The sweep interest rate is variable and may be adjusted daily. Net interest income is compounded and declared daily and credited to the account—monthly by the fifth business day of the month for the Federated funds; daily for repurchase agreements.

Detailed information on repurchase agreement investments will be shown on your monthly checking account statement. A separate, monthly mutual fund statement will be sent for Federated mutual funds, showing daily investment activity.