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FDIC

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

FDIC

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

PERSONAL & BUSINESS BANKING

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Kearny Insured Liquidity Sweep Account

Maximize your interest without ever lifting a finger.

Maximize your interest without ever lifting a finger.

Protecting your deposits, especially during times of market volatility is important. The Kearny Insured Liquidity Sweep account program is the most flexible, multi-million dollar FDIC-insured cash management solution available. The insured cash sweep account provides access to a network of US banks that can offer millions of dollars in FDIC insurance coverage and daily liquidity. It's an ideal cash sweep option for anyone seeking safety, security and liquidity.

The Kearny Insured Liquidity Sweep account automatically maintains your desired daily minimum balance by transferring excess funds into a higher-interest-bearing account, at the close of each business day.

Funds are still readily available via check, wire, EFT, or debit card, with full FDIC Insurance coverage up to $50 million per individual tax ID.

Interested in learning more about the Kearny Insured Liquidity Sweep account? Call 973-244-4516 or make an appointment.

Single Source Means You Only Deal With Kearny Bank

When linking your accounts to an insured liquidity sweep account with Kearny Bank, you'll work solely with them and avoid time-consuming record-keeping. The program automatically allocates deposits above the individual tax ID's $250,000 FDIC Insurance limit to insured accounts in other participating financial institutions.

The insured liquidity sweep account is available to individuals, businesses and government entities. Consider the important advantages:

  • Expanded levels of FDIC Insurance, up to $50 million per individual tax ID
  • Automatic end-of-day transfer of funds in excess of target balance you set
  • Earns a competitive interest rate
  • No withdrawal limitations
  • Automatically transfers funds to meet daily account balance needs
  • Daily balance reporting
  • Separate monthly investment account statement
  • Download detailed flyer here.

Kearny Insured Liquidity Sweep FAQs

How are banks vetted in the system?

Banks that are deposit-taking banks within the program are only considered if they are categorized as “well capitalized” by the FDIC and have no outstanding enforcement actions such as cease and desist orders, particularly regarding capital structure. Status is evaluated quarterly.

Have you experienced a bank failure within the program?

How do we know where our money is?

Are there any restrictions or delays to accessing funds?

What if I already have funds in one or more of the banks in the program?

If we deposit up to the program maximum, is interest posted still insured?

How is interest posted?

How is interest calculated?

Who pays the interest?

Download a fact sheet with all of the FAQ to the bottom.

Download all FAQs here

Start realizing the benefits of the Kearny Insured Liquidity Sweep account, make an appointment today.

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