FY27 Banking Services

Winona State University (WSU) seeks a full‑service banking partner to manage its daily financial operations for the FY27 fiscal year and beyond. The university requires activity checking, direct‑deposit, and an Insured Cash Sweep (ICS) account, as well as comprehensive credit‑card processing, ACH services, Positive Pay fraud protection, and a web‑based platform integrated with Workday. The vendor must have physical depository facilities in both Winona and Rochester, MN, and must meet Minnesota statutory collateral requirements (ICS). The contract will be five years long, with Net‑30 payment terms, and will involve handling roughly $190 M in annual transaction volume. • Provide activity checking, direct‑deposit, and an automated daily sweep to an insured cash‑sweep account. • Deliver credit‑card processing (including group travel cards), ACH file creation, Positive Pay, and 24/7 support with a web portal for reporting and reconciliation. • Maintain local depository facilities in Winona and Rochester, comply with MN statutes, and furnish detailed monthly analysis statements, funds‑availability schedules, and VPAT accessibility documentation.