Banking Services

The Galveston Housing Authority in Galveston, Texas is seeking a qualified financial institution to provide comprehensive banking services. The agency requires these services to manage its daily financial operations, secure its funds, and maintain accurate electronic and physical transaction records. The selected institution will handle multiple accounts, process deposits, and facilitate secure transactions to support the agency's administrative and community development programs. The scope of work covers commercial teller services for processing deposits and an online stop-payment service for issued checks with a thirty-day transaction research window. The bank must provide monthly account statements and detailed monthly account analyses for each account within ten business days after the end of each month. Additionally, the bank must supply necessary materials including checks, deposit slips, endorsement stamps, cashier's checks, money bags, locking coin bags, and coin wrappers. The agency requires the bank to maintain an electronic record of cleared checks, process telephone transactions, and return all insufficient funds checks directly to the agency. The bank must open and maintain several specific accounts, including a separate savings account for Family Self-Sufficiency participants, an Island Community Centre account, a development account, and an administrative account. The bank must also establish other deposit accounts as needed, including checking, savings, and Certificates of Deposits. Eligible bidders must be onshore organizations located within the United States. The agency allows the performance of the banking and administrative work to occur offsite at the bank's facilities. The agency has not disclosed a specific budget and is seeking competitive proposals to evaluate pricing and service structures. No key dates are specified in the procurement details.