Asian Bank Manages School Sweep Accounts and Reserves

Asian Bank continues to manage Folk Arts-Cultural Treasures Charter School’s building fund and cash reserve through a sweep account structure designed to maximize FDIC coverage and interest earnings. The arrangement is currently generating approximately $200,000 per year in interest for the school.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Document type

Minutes

Source document

Folk Arts-Cultural Treasures Charter School Board of Trustees Meeting Minutes June 2025

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Folk Arts-Cultural Treasures Charter School Board of Trustees Meeting Agenda 2026-06-17

APPROVED

Folk Arts-Cultural Treasures CS, PennsylvaniaJun 17, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Folk Arts-Cultural Treasures CS?

Asian Bank was awarded this financial services contract by Folk Arts-Cultural Treasures CS, as recorded on June 18, 2025.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Folk Arts-Cultural Treasures Charter School Board of Trustees Meeting Minutes June 2025 (Minutes), dated June 18, 2025 from Folk Arts-Cultural Treasures CS. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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