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The City of Henderson, Kentucky is seeking sealed proposals for banking services. Qualified institutions must be legally authorized to conduct business in Kentucky, have a branch in Henderson, and provide collateral for deposits. Proposals are due by 2:00 PM on Wednesday, August 12, 2026. Services include no minimum balance requirements, electronic statement access, night deposit capabilities, error correction within 3 business days, coin/currency requests, locking deposit bags, direct payroll deposit via ACH, online transfers, ACH block filters, initiation of ACH transactions, timely fund availability for deposits, provision of necessary forms and supplies, stop payment services, positive pay, and remote deposit with scanners. The city expects all checking account balances to earn interest at a rate equal to the high end of the current target Fed Funds rate range plus or minus proposed basis points, with no negative rates. Collateralization requirements are specified. The agreement term is from September 1, 2026, to August 31, 2029, with two one-year renewal options.
Sealed proposals will be received until 2:00 p. m. , Wednesday, August 12, 2026. Sealed proposals will be received in the finance office at the henderson municipal center, 222 first street, po box 716, henderson, kentucky, ****, until 2:00p. m. , wednesday, august 12, 2026.
It is assumed there will be no charges for banking services. it is assumed there will be no charges for banking services.
Selection criteria, listed in order of importance, are: 1. Interest rate paid on checking accounts 2. Ability to provide the services outlined in this proposal 3. Availability schedule for deposit items 4. Responsiveness to the request for proposal. listed in the order of importance are the criteria to be used to evaluate the responses andto select the successful bank: 1. interest rate paid on checking accounts 2. ability to provide the services outlined in this proposal 3. availability schedule for deposit items 4. responsiveness to the request for proposal
A banking institution is considered qualified if it is legally authorized to conduct business in the Commonwealth of Kentucky, has a branch office located within the City of Henderson, and can provide collateral for deposits. a banking institution bankis considered to be qualified if it is legally authorized to conduct business in thecommonwealth of kentucky, has a branch office located within the city of henderson andcan provide collateral for deposits.