Banking Services RFP

The City of Centralia, Illinois is seeking a commercial bank with a home office or branch within the city limits to provide a full suite of depository, treasury‑management, and related banking services on a long‑term basis. The contract will cover wire transfers, ACH processing, deposit and collection services, online banking, positive pay, stop‑payment, purchasing‑card options, overdraft handling, and other ancillary services. Bidders must supply detailed fee schedules, collateralization plans, security protocols, and transition timelines, and must meet strict eligibility criteria (local presence, creditworthiness, FDIC/NCUA insurance coverage, etc.). The RFP includes a 90‑day proposal validity period and a tentative award date of early December 2026. • Required services: wire, ACH, deposit, online banking, positive‑pay, stop‑payment, purchasing‑card, overdraft, and related treasury functions. • Mandatory deliverables: full fee schedule, collateral coverage (110 % of uninsured balances), security and cyber‑risk controls, transition plan, and references from other municipal clients. • Eligibility: banks must have a home office or branch within Centralia, Illinois; must provide collateral for uninsured funds; must comply with Illinois Public Funds Investment Act.