Pasadena Opengov #137675

City of Pasadena seeks qualified banking services provider for general and payroll accounts.

The City of Pasadena's Finance Department is seeking a qualified banking services provider for its general and payroll accounts. - Government Buyer: - City of Pasadena, Finance Department - OEMs and Vendors: - No specific OEMs or vendors named; open to all qualified banking institutions - Products/Services Requested: - Comprehensive banking services for all general and payroll accounts - Account maintenance for 29 city accounts - Remote deposit account maintenance - Zero Balance Account (ZBA) depository, master, and subsidiary account management - Processing of debit and credit transactions (including ACH, check deposits, and Paymode payments) - Delivery of account statements (CD ROM, paper, additional copies) - ACH services: monthly maintenance, on-us/off-us debits, same-day debits, credits, returns, unauthorized entries, optional reports, blocks, notifications of change, reversals - Unique or Notable Requirements: - Provider must be a federal or state-chartered bank as defined by California Government Code - Must be a qualified depository of public funds and collateralize deposits per state law - Must maintain at least a 'satisfactory' Community Reinvestment Act (CRA) rating and a satisfactory rating from a nationally recognized bank rating service - Must have a full-service branch within Pasadena and a dedicated governmental services unit - Strict compliance with California public funds depository laws and local branch presence required

Description

The City of Pasadena's Finance Department is seeking banking services from a qualified banking entity. The bank must be a federal or state-chartered entity as defined in the California Government Code and a qualified depository of public funds. The bank must collateralize the City's deposits, have at least a satisfactory Community Reinvestment Act rating, a satisfactory rating from a nationally recognized bank rating service, and maintain a full-service branch within Pasadena with a dedicated governmental services unit. The solicitation is open and responses are to be submitted electronically by July 23, 2026.

View original listing