At Bank of Labor, we understand that organizations have different banking needs. We offer straightforward accounts that help you keep your money productive and your organization profitable.
Designed to accommodate organizations with low-mid balances and smaller transaction volumes.
Designed to accommodate organizations with higher transaction volumes and multifaceted cash management needs.
Money Market Account
Increase returns on cash balances with our competitive interest rates without the time and expense of moving money to third-party investment securities.
Earn a competitive interest rate that complements your checking accounts.
Sweep Account Options
Maximize cash flow, save time and create efficiency using our automated process. Eliminate manual transfers, put idle balances to work with little to no daily effort and further improve your duty allocation within your accounting department by segregating certain business activities.
Zero Balance Account
Zero Balance Accounts (ZBA) organize your funds and simplify the aggregation process in your internal accounting. Funds can be swept to zero or a specified collected balance. Sweeps can be used independently or combined with Money Market, Savings, and ICS accounts to maximize investment opportunities. Loan Sweeps* allow a borrower to minimize their interest expense by using all available balances to pay down the loan each night over the predetermined peg balance. Conversely, if your operating account is insufficient, the funds will be swept back to cover any outstanding items. *Not available with all loan types and subject to approval.
Insured Cash Sweep
Insured Cash Sweep® provides peace of mind knowing your ICS funds are eligible for multi-million-dollar FDIC insurance backed by the full faith and credit of the U.S. government. With the ICS service, you can place your funds into demand deposit accounts, money market deposit accounts, or both, and earn returns. Your transaction account is managed at our bank and insured by IntraFi Network banks in the amounts exceeding $250,000, the standard FDIC insurance maximum.