Banking Services
- Client
- City of Highland Park
- RFP Number
- BANKING-9502
- Posted
- 10/16/2026
- Category
- Banking Services
- Budget
- Looking for Proposals
- NAICS
- —
- Set-aside
- —
- Contact
- —
Description
AI GeneratedThe City of Highland Park, Illinois, seeks proposals for comprehensive core banking and treasury management services. The selected vendor must provide a primary operating depository account, zero-balance or controlled-disbursement accounts, secure browser-based online banking, same-day wire transfers, detailed monthly account analysis, and searchable electronic document images. Work will occur offsite. The buyer desires a five-year contract with an optional five-year renewal period, featuring fixed fees for core services during the initial term. Eligible applicants are USA-based organizations that are FDIC-insured, members of the Federal Reserve System, and capable of posting required collateralization. Proposers must demonstrate experience providing comparable services to municipal or governmental clients. Proposers must submit responses electronically to Deputy Finance Director Lara D. Lukasik by October 30, 2026, at 4:00 PM CDT. The deadline for questions is October 16, 2026. Proposals must include a completed reference sheet, a detailed implementation plan, two years of audited financial statements, and recent bank credit ratings. The City will evaluate submissions based on RFP conformance, service capabilities, governmental experience, staff qualifications, total costs and fees, and overall fit with operational objectives.
Key solicitation details
AI-extracted from RFP for Banking Services 2026 - Final.pdf. Confirm against the original documents before bidding.
The City of Highland Park is requesting proposals for core banking and treasury management services at a competitive price. Financial institutions that are FDIC members, capable of meeting collateralization requirements, and capable of providing required core depository and treasury management services are eligible to bid.
- Issued by
- City of Highland Park
- Issue Date
- October 2, 2026
- Intent to Respond encouraged
- October 13, 2026
- Deadline for written questions
- October 16, 2026 at 4:00 P.M.
- Responses Provided to RFP Questions
- October 22, 2026
- Proposals Due
- October 30, 2026 at 4:00 P.M. CDT
- How to submit
- Electronic
- Submission details
- Submitted electronically in searchable PDF format to the RFP Coordinator at [email protected] with subject line 'RFP – Banking Services'.
- Contract term
- Five-year contract, with the option for the City to renew for another five-year period.
- Place of performance
- Highland Park, IL / Offsite
- Insurance and bonding
- The selected proposer shall maintain insurance coverage required by law and reasonably requested by the City.
- Funding
- Section 6(d) of the Illinois Public Funds Investment Act, 30 ILCS 235/6(d)
How proposals are evaluated
| Completeness, responsiveness, and conformance with the requirements of the RFP | |
| Ability to provide required banking, treasury management, cash management, merchant processing, and related services | |
| Experience serving municipal or governmental clients and quality of client references | |
| Qualifications, experience, expertise, and demonstrated ability to perform required services | |
| Aggregate banking service costs, fees, and required compensating balances | |
| Overall fit with the City's operational requirements and objectives |
Scope of work
- Primary operating/depository account and separate zero-balance or controlled-disbursement accounts
- Monthly account analysis and earnings credit administration
- Browser-based online banking and treasury management platform
- ACH sending and receiving capabilities
- Incoming and outgoing domestic wire transfer services
- Monthly statements and searchable electronic images of canceled checks and deposits
- Collateralization of account balances in excess of FDIC limits
- Daily pickup and lockbox services
Minimum qualifications
- Insured by the Federal Deposit Insurance Corporation (FDIC)
- Member of the Federal Reserve System as required to perform requested services
- Capable of maintaining the City's required collateralization
- Audited financial statements for the two most recent completed fiscal years
- Most recent publicly available bank credit/investment rating from a nationally recognized rating agency
- Demonstrated experience providing comparable banking and treasury-management services to municipal or governmental clients
Documents to include with the bid
- Signed Proposal Submittal Form
- Reference Sheet (Attachment A)
- Cost Proposal (Attachment B)
- Completed Exception Form (Attachment C)
- Additional Requested Information (Attachment D)
- Completed CRA Information Form (Attachment E)
- Description of municipal/government banking experience
- Detailed response to every requirement in Section I
- Audited financial statements for the two most recent completed fiscal years
- Detailed implementation plan
Verify important details
Document checkConfirm submission instructions and amendments with the issuing agency before responding.
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