A Daily Repurchase 'Sweep' Account is an interest-earning option for high balance commercial and municipal customers.

On a daily basis, unused funds above an agreed upon threshold in an operating account are transferred (called a 'sweep') into a daily Repurchase Agreement for the customer. These funds earn interest based on the daily New York Federal Funds Rate. The funds and interest earned are 'swept' back into the operating account the following morning. This daily sweep provides the customer with the ability to earn the most on their unused funds without the hassle of daily cash management.

NOTE - Repurchase Agreements are not considered deposits and are not insured by the FDIC. However, the Bank pledges collateral in the form of securities issued or guaranteed by the United States. Woodsville Guaranty Savings Bank does not guarantee Repurchase Agreements and they are subject to the possible loss of principal invested.