Vendor needs to provide banking and investment services to the government authority located in Rhode Island.
1. Be a federally or State of Rhode Island chartered institution qualified to act as a depository bank.
2. The bank must have a branch located within 25 miles of the Authority's main administrative office 100 Broad Street and that location must be able to offer the full range of services required by this RFP.
3. Be a member of the Federal Reserve System and have access to all services.
4. Be insured by the agency.
5. Be able to initiate and receive Federal wires.
6. Pursuant to agency requirements provided under the Annual Contributions Contract (ACC), all Public Housing and Housing Choice Voucher funds must be placed in interest-bearing accounts.
7. Must have a Community Reinvestment Act (CRA) rating of either Satisfactory or Outstanding.
8. Must have an executed HUD form 51999, General Depository Agreement, or be willing to execute the form (without changes) at the time of signing the contract (form attached).
9. Be able to provide the financial information or statements for the years specified in the RFP.
10. Be capable of providing all the services identified within this RFP.
11. Demonstrate that you have and practice commercially feasible best practices for cyber and data security, including breach notification protocols that exceed what is legally required.
- General Account Information.
a. Describe the bank's capacity to handle the number and types of accounts that the Authority currently use as described in Current Banking Services.
b. The Authority completes online transfers between all accounts. Describe the process and the reporting available for online transfers.
c. Describe how the bank calculates bank balances. Describe the methodology that would be used to give credit to the Authority's bank balances.
- Branch Services.
Provide a list of the bank's branches within the City of Providence, RI. For each branch, provide the hours of operation, list of banking and investment services available, and the proximity to the Authority's main administration office at 100 Broad Street
- Automated Cash Management Information Access.
The Authority utilizes web-based, automated cash management services and daily balance reporting (prior and intra-day) for timely access to balance information and transactions. Downloading of report information is critical to the Authority so flexibility in customized reporting is also important
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