About this opportunity
AI summaryThe City of Dearborn Heights seeks proposals from qualified banking institutions to provide comprehensive banking services at competitive rates for a one-year agreement term. The requested scope covers depository and collection services, treasury management, investment services, financing, merchant services, purchasing cards, and a pricing proposal. Eligible bidders must be federally or State of Michigan chartered banking institutions with offices in Michigan, ideally serving the Dearborn Heights area, and onshore USA organizations. Bidders must submit proposals digitally via BidNet, email, or online by November 26, 2026, with an authorized corporate signature. Questions must be prepared for the pre-proposal submission meeting on November 16, 2026, at 10:00 a.m. at City Hall or submitted to the City Treasurer by November 16, 2026. Proposals are evaluated based on considerations including, but not limited to, the earnings credit rate.
Buyer and opportunity details
- Client
- City of Dearborn Heights
Scope of work
- Depository and collection services
- Treasury management services including reconciliation and positive pay
- Information reporting services and ACH processing
- Disbursement services and potential future lockbox services
- Investment services and automatic sweep accounts
- Merchant card services
- Purchasing card and no-fee company credit cards
- Property tax payment collection at bank branches
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Treasury management service fees | Not specified |
| Earnings credit rate | Not specified |
| Investment/sweep yield | Not specified |
| Availability schedule applied to deposit items | Not specified |
| Financial strength | Not specified |
| Quality of references | Not specified |
| Availability and commitment to implementing new technologies | Not specified |
Minimum qualifications
- Must be a federally or State of Michigan chartered banking institution
- Must have offices located in Michigan, ideally serving the Dearborn Heights area
- Accounts must comply with Michigan Public Act 20 of 1943, as amended, and City Cash and Investment Policy
Documents to include with your response
- Completed proposal following the RFP format
- Relevant supplemental information and attachments
- Pricing proposal and fee worksheet
- Credit ratings from Standard and Poor's and/or Moody's
- Annual financial reports for the past two (2) years
- Bank ownership information
- Résumés and contact details for key personnel
- Four customer references using comparable services
- Overview of disaster recovery plan
- Sample reports for reconciliation, positive pay, and information reporting
Key dates
- RFP distributed to banks
- November 9, 2026
- Pre-proposal submission meeting
- November 16, 2026, 10:00 a.m.
- Questions and answers provided to banks
- November 18, 2026
- Proposals due from banks
- November 26, 2026
- Review of proposals
- November 30–December 4, 2026
- Recommendation to City Council
- December 15, 2026
How to submit
- Method
- Electronic via BidNet
- Instructions
- Submit via BidNet to the attention of Lisa Hicks-Clayton, Treasurer. A corporate official legally authorized to bind the bank must sign the proposal.
Contract details
- Term
- no less than one year
- Place of performance
- Dearborn Heights, Michigan