Community Banking and Qualified Depository Services

The California-based 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 institution 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 provider must also deliver limited treasury and payment services, reporting and audit support, relationship management, and accountability. Additionally, the partner must ensure the security, compliance, and safeguarding of all deposited funds. Eligible bidders must be onshore organizations based in the United States. The performance of all contracted work will take place offsite. The agency is looking for proposals to establish the budget for these services. The agency will award a contract with a performance period of five years. Bidders must submit all questions regarding this opportunity no later than June 1, 2026. Final responses can be submitted digitally via email or through the online portal.