Close an Account

Credit Union Admins can close accounts on behalf of their EIA members directly through the Admin Portal. Before requesting a closure, the account must be liquidated to a $0 pending balance.

To close an account, navigate to the "Sweep Program" section of the Admin Portal and select "Close Account." From the dropdown, choose the account you wish to close. The current balance will be displayed. Click "Close Account" to confirm. Because the balance has already been liquidated, the system calculates the remaining accrued interest, and will pay the interest and close the account during the next allocation.

Once a closure is scheduled, the account will appear in the Closed Accounts table with timestamps reflecting when the closure was requested and when it is scheduled to close. A final account statement will be available in the Documents tab, and a confirmation email will be sent to your institution once the remaining balance and accrued interest have been returned in that day's settlement.

For same-day closure, liquidation and closure requests should be submitted before 1:30pm EST on a business day. Requests submitted after 1:30pm, or on a weekend or holiday, will be scheduled for the next business day's allocation. Once a closure has been requested, no new transactions can be initiated on the account.