Community Banking and Qualified Depository Services

The California government authority is seeking a community-based financial institution to serve as a public depository and maintain a deposit relationship. This partnership must support the agency's financial management needs while advancing its goal of placing funds with community-based financial institutions. The selected vendor will provide limited treasury and cash management services necessary to support the administration, access, and movement of deposited funds. The scope of work covers account setup and implementation, community depository services, deposit administration, and balance management. The agency also requires limited treasury and payment services, reporting and audit support, relationship management, and accountability. To ensure the safety of public assets, the vendor must guarantee the security, compliance, and safeguarding of all deposited funds. Eligible bidders must be onshore organizations based in the United States. The agency allows the performance of the work to occur offsite, and bidders can submit their proposals digitally via email or online. The agency is looking for budget proposals to determine the cost of these services. The contract period will span five years. Bidders must submit all questions regarding this opportunity no later than June 1, 2026.