Depository Bid for Laurel School District

The Laurel School District is seeking a depository to assist with banking functions for a three-year period commencing on July 1, 2026, and ending on June 30, 2029. The selected depository will provide services such as checking and savings accounts, wire transfers, and investment strategies. The district requires the depository to be insured by the Federal Deposit Insurance Corporation, have a primary capital to assets ratio of five and one-half percent, and have offices located in Mississippi. The depository must also agree to execute a Collateral Security Agreement and provide monthly statements and annual reports. Some key requirements and services include: • Providing checking and savings accounts with no charge or minimum fees • Offering advice on cash management and investment strategies • Providing earnings allowance on daily district account balances • Allowing the district to establish or maintain accounts with no charge or minimum fees • Providing services such as stop payments, direct deposit, and internet banking access at no charge or minimum charge