About this opportunity
AI summaryThe Pelican River Watershed District seeks proposals from qualified financial institutions to furnish comprehensive banking services. Required services include handling deposits, providing required collateral under state laws, wire transfers, electronic funds transfers, fraud prevention through positive pay, daily sweep investment accounts, and computerized file transfer capabilities. Eligible proposers must be Equal Employment Opportunity Employers and onshore USA organizations with considerable banking experience serving similar government units or commercial enterprises. Proposers must submit two paper copies in a sealed envelope marked "Banking Services Proposal Enclosed" to the District Administrator by 4:00 P.M. on November 30, 2026. Questions must be submitted via email to [email protected] no later than 4:00 P.M. on November 23, 2026. The Board of Managers will evaluate submissions based on criteria including the ability to perform services on a timely basis, quality and adaptability of services, and cost. Quoted prices must be guaranteed for at least two years.
Buyer and opportunity details
- Client
- Pelican River Watershed District
Scope of work
- Receipt of deposits, including ACH deposits of credit card transactions
- Processing and clearing of all checks and drafts issued by the District
- Originating ACH transactions for debt service, utility debits, NSF return items, and direct deposit payroll
- Collateral for all deposits of a type and in amounts required by state laws
- Wire transfers and confirmations, including PC program ability to initiate in-house wire transfers
- Computerized file transfer capability between District and financial institution
- Electronic funds transfer of all federal and state withholding taxes
- Daily sweep accounts for investment of available cash balances at market rates
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Sufficiency of financial resources and ability, capacity, and skill to perform services timely | Not specified |
| Responses from client references | Not specified |
| Demonstrated knowledge of the District, its economic conditions, and the community | Not specified |
| Reputation, financial stability, and longevity of the proposer | Not specified |
| Quality, availability, and adaptability of services to needs required | Not specified |
| Cost of the services provided | Not specified |
| Physical facility including location(s), technology, and security | Not specified |
| Community involvement in the City of Detroit Lakes and Becker County area | Not specified |
Minimum qualifications
- Qualified financial institution with considerable banking industry experience, particularly with government units or commercial enterprises of similar size
- Must be an Equal Employment Opportunity Employer
Documents to include with your response
- Section 1: Title Page
- Section 2: Letter of Transmittal (1 page maximum)
- Section 3: Audited Financial Statements, Regulatory and Management Reports for the most recent two (2) fiscal years
- Section 4: Profile Questionnaire
- Section 5: Required Banking Services response
- Section 6: Compensation, Fees, and Related Information
- Section 7: Appendix A - Bid Sheet
- Section 8: Copies of Proposed Agreement(s)
- Section 9: Any Additional Information
Key dates
- RFP Date
- October 21, 2026
- Questions due
- November 23, 2026, until 4:00 P.M.
- Proposals due
- November 30, 2026, at 4:00 P.M.
- Board meeting to discuss and act on responses
- December 16, 2026
- Contract start
- approximately January 1, 2027
How to submit
- Method
- Sealed hard copy via mail or hand delivery
- Instructions
- Send two (2) paper copies of the proposal in a sealed envelope to Pelican River Watershed District, Attn: Shanna Bach, District Administrator, 211 Holmes Street West, Suite 201, Detroit Lakes, MN 56501. The envelope must show the name and address of the proposer and contain the notation 'Banking Services Proposal Enclosed'.
Contract details
- Term
- Five (5) year period beginning approximately January 1, 2027, with an additional three (3) year option to renew
- Insurance and bonding
- Proposers must disclose insurance coverage carried with respect to acts or omissions of directors, officers, and other personnel resulting in loss of funds.