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Sweep Accounts

Make your deposits work for you.

Additional cash can be automatically swept from your company's checking account into an investment account earning you market rates. In addition to linking an investment account to your checking account, you can also link it to a line of credit. Take the worry away of not utilizing your additional cash by investing, while alleviating the potential of a return check.

West Gate Bank is able to offer you the opportunity to invest in money market funds offered by the Goldman Sachs Trust. The two funds that West Gate Bank offers are the Prime Obligation Fund and Government Fund.*

Prime Obligation Fund (POF)

This fund invests in U.S. Government securities, obligations of U.S. banks, commercial paper and other short-term obligations of U.S. companies, states, municipalities, and other entities and repurchase agreements.

Government Fund (GF)

This fund invests only in securities issued by the U.S. Treasury and repurchase agreements relating to such securities.

Goldman Sachs is a U.S. registered money market fund that invests in short-term money market instruments. For its investment objective and policies, please contact a cash management specialist for a prospectus.

For more information, please contact Brock Shelton at 323-8902 or visit one of our branch locations.

In addition to the competitive sweep accounts, West Gate Bank's Cash Management services can also provide additional services to make banking even more convenient for you.

*An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund. Past performance is no guarantee of future results and investment returns will fluctuate. Performance reflects fee waivers. In their absence, performance would be reduced.