Bank Deposit Sweep Option
The Deposit Sweep Option is the default Core Sweep Option for most types of Union Banc Investment Services accounts, based on the type and nature of the account ownership. When the option you choose for your Core Sweep is the Bank Deposit Sweep Program, cash balances (or free credit balances) are automatically “swept” into an interest-bearing deposit account at Union Bank. Union Banc Investment Services provides customers the opportunity to earn income on un-invested cash in their brokerage account—through the Bank Deposit Sweep Program1 or the High Mark California Tax-Free Money Market Fund2 sweep option.