Banking Services

The vendor is required to provide banking services for a money management system commencing on or about September 1, 2025 through July 31, 2026.
- The objective is to minimize fees, maximize interest earned on collected funds while satisfying the authority’s financial obligations and maintaining various account records.
- The bank assigns an account manager who will be the contact point for addressing any issues with accounts.
- Currently, checks and money orders are scanned into the authority’s system and directly deposited into the bank accounts.
- The authority would like to continue making deposits in this fashion unless the bank offers a viable alternative.
 - The tenant escrow security account consists of over nine (9) sub accounts which are interest bearing accounts for tenant rent and/or pet security deposits.
- An outline explaining the bank’s customary practices for direct deposit payments to landlords, onsite deposits via scanner or other viable alternatives, ease of transfer to new bank, methodology and party responsibilities during transfer.
- Payroll
• The authority currently uses Paylocity for their payroll which is processed bi-weekly. 
• The authority requires the successful banking institution to coordinate with unicorn HRO to obtain the authority’s direct deposit information in the required ACH format. 
• There will be no fees charged for payroll checks cashed at a local branch.
- Deposit 
• The successful banking institution will provide triplicate deposit slips, deposit bags and endorsement stamps to the authority, at no cost to the authority.
- On-line banking 
• As part of the on-line banking, the successful banking institution must have the capability of providing for wire transfers, stop payments, ACH transfers, account transfers, monthly statement retrieval, detail of account activities, check detail look up capabilities including ability to print copy (front and back) of cancelled checks and other details.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: July 14, 2025