Banking Services RFP (2026020-FN-P)

Background
The City of Harrisonburg, Virginia, is seeking proposals from banking institutions to provide comprehensive banking services for both the City and the Harrisonburg City School Board. The current contract with Truist Bank is set to expire on June 30, 2026. The City serves a population of approximately 56,000 and is located in the central Shenandoah Valley region of Virginia. The Finance Department manages the disbursement of funds and other banking services.

Work Details
The selected Offeror will provide a range of banking services including:

1. **Deposit Services**: Accept daily cash and coin deposits at local branches, process checks via Image Cash Letter, return deposited checks with debit advice, provide online access to deposited item images, and supply blank deposit tickets.

2. **Check Disbursement Services**: Implement positive pay for fraud protection, unlimited stop payment services online, and provide images of all canceled checks.

3. **ACH Services**: Facilitate electronic deposits and disbursements with dual approval control for ACH transactions, daily reporting of changes and returns, and ACH fraud protection notifications.

4. **Wire Transfer Services**: Offer an online platform for outgoing wire transfers with dual control requirements and customer service support for wire transfer issues.

5. **Online Banking Services**: Provide comprehensive online banking capabilities including balance reporting, image retrieval of checks, transaction search capabilities, ACH processing, wire transfer capabilities, and online stop payments.

6. **Statements and Reports**: Deliver monthly account statements for various accounts along with account analysis statements detailing service usage and costs.

7. **Client Services**: Assign a dedicated officer as the primary liaison for conflict resolution and provide training on online banking services.

8. **Transition of Services**: Ensure a smooth transition process with scheduled meetings post-contract execution and bi-weekly status updates during the transition period.

Period of Performance
The initial contract term will be three years from July 1, 2026 through June 30, 2029, with options for up to three additional one-year renewals.

Place of Performance
Banking services will be performed primarily within the City of Harrisonburg at designated bank branch locations.

Bidder Requirements
Offerors must be a 'Qualified Public Depository' under Virginia law with at least five years of experience in governmental banking services. A local branch presence within the City is required.