Denton Ionwave #9027 Addendum 1 (Bank Depository)

City of Denton Solicits Bank Depository Services from Eligible Financial Institutions

The City of Denton, Texas is seeking proposals from eligible financial institutions to provide comprehensive bank depository services for public funds. - Government Buyer: - City of Denton, Texas (Finance Department, Treasury and Debt Management; Purchasing) - Eligible Vendors: - State or national banks, credit unions, or savings associations with a physical branch in Denton, Texas (as required by Texas Local Government Code Chapter 105) - Products and Services Requested: - Comprehensive bank depository services, including: - Account management for multiple zero-balance accounts - Controlled disbursement and payroll ACH transfers (approx. $10.2M bi-weekly) - Lockbox services for utility and EMS billing (including HIPAA-compliant document imaging) - Safekeeping services and limited certificates of deposit purchases - Wire transfers, cash vault services, and online banking with multifactor authentication and dual authorization - Returned item processing, fraud protection, and workflow automation (optional) - Volume-based services such as: - 2,902,003 cash vault currency/coin deposits (per year) - 34,150 wholesale lockbox deposited checks (per year) - 125,075 balance and compensation information items - 29,020 cash vault currency or coin deposited - 394,407 eBox and lockbox payment processing items - Unique or Notable Requirements: - Compliance with Texas statutes (Local Government Code Chapter 105) - Physical branch presence in Denton, Texas - Firm pricing for the first year, with capped annual adjustments - Detailed fee schedules and service capability documentation - Provision of sample documents (e.g., account analysis, lockbox reports) - Ability to provide all existing services required by the City - Consideration of interlocal cooperative agreements and state/federal contracts for best value - Preference for innovative, cost-effective solutions and optional workflow automation/fraud protection - No specific OEMs are mentioned; opportunity is limited to qualifying financial institutions.

Description

The City of Denton is soliciting proposals from eligible banks, credit unions, or savings associations with a branch in Denton, Texas, to serve as the bank depository for public funds. The contract will cover bank depository services excluding investment transactions except safekeeping and limited certificates of deposit purchases. The contract term is five years starting in 2026 with options for termination and extension. Respondents must demonstrate experience, innovative approaches, and ability to provide comprehensive banking services that represent best value to the City. Proposals must include detailed financial and service information, a completed fee schedule, and comply with Texas Local Government Code Chapter 105.

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