Henderson County Civicplus #26 - 21

City of Henderson, Kentucky seeks proposals for comprehensive banking services

The City of Henderson, Kentucky Finance Department is seeking proposals from qualified banking institutions for a comprehensive suite of banking services to support its financial operations. - Government Buyer: - City of Henderson, Kentucky Finance Department - OEMs and Vendors: - No specific OEMs or vendors named; eligible OEMs are banking institutions legally authorized to operate in Kentucky with a branch in Henderson - Products/Services Requested: - Interest-bearing checking accounts (22 active accounts) - Electronic bank statements - Direct payroll deposit via ACH for approximately 407 employees (compatible with Tyler Systems software) - ACH transactions and online account transfers - Night deposit capabilities - Provision of locking deposit bags and keys - Positive Pay fraud prevention - Remote Deposit with 3 check scanners - ACH Block/Filters with email notifications - Supply of necessary forms and supplies at no cost - Unique/Notable Requirements: - No minimum balance required - Correction of bank errors within three business days - Collateralization of deposits exceeding FDIC insurance limits (pledged securities or letter of credit) - Quarterly collateral reporting - Annual audited financial statements - Interest paid at the high end of the Fed Funds Target Rate plus basis points - Only banks (not credit unions or savings and loan institutions) are eligible - All services must be provided at no charge to the City - Agreement term: three years with two one-year renewal options

Description

The City of Henderson, Kentucky is requesting sealed proposals from qualified banking institutions for banking services. The bank must be authorized to conduct business in Kentucky, have a branch in Henderson, and provide collateral for deposits. Services include interest-bearing checking accounts, electronic bank statements, payroll direct deposit, ACH transactions, and other banking services at no cost. Proposals are due by August 12, 2026, and questions can be directed to the Finance Manager.

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