General Banking Services

The East Orange Water Commission in East Orange, New Jersey, is seeking a qualified financial institution to provide comprehensive general banking services. The agency needs to optimize its financial operations through modern electronic banking capabilities, secure transaction processing, and efficient account management. This initiative aims to streamline daily cash management, enhance fraud prevention, and ensure reliable payroll and transfer services across the agency's accounts. The scope of work covers the management of a General account and a Bail account, overseen by a designated assigned account officer for both accounts. The selected institution must provide electronic banking access with real-time activity viewing, a six-month online history, positive pay features, online stop payment capabilities, and electronic transfer access between the two accounts. Daily operations require next-business-day availability for deposited checks, daily email notifications of debit or credit memos, payroll services paid in full or in part, sweep accounts, and interest paid on all accounts. Reporting requirements include monthly bank statements available electronically, monthly account analysis detailing all fees and earnings credits, and email delivery of returned item images within the month of return. Eligible bidders must perform all work offsite and must be located within the United States. The agency will evaluate proposals based on the bidder's ability to meet all technical electronic banking requirements, the qualifications of the assigned account officer, and the competitiveness of the interest rates and fee structures. While the agency has not disclosed a specific budget, bidders must submit a detailed pricing proposal outlining all fees, charges, and earnings credits. The contract period will span five years, and bidders must submit all questions regarding this opportunity no later than June 26, 2026.