#09-06.26 Banking & Investment Plan and Rates RFP - #09-06.26 Questions from Banks & MCCC Responses
| Agency: | Monroe County Community College |
|---|---|
| State: | Michigan |
| Type of Government: | State & Local |
| NAICS Category: |
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| Posted Date: | Jul 7, 2026 |
| Due Date: | Jul 23, 2026 |
| Original Source: | Please Login to View Page |
| Contact information: | Please Login to View Page |
| Bid Documents: | Please Login to View Page |
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Request for Proposal
#09-06.26 Banking & Investment Plan and Rates
Included documents:
FAMILIAL DISCLOSURE
IRAN ECONOMIC SANCTIONS ACT COMPLIANCE
Monroe County Community College (the College) located at 1555 S. Raisinville Rd. Monroe,
MI 48161 is accepting sealed bids for an investment plan and rates in accordance with the
accompanying specifications.
MONROE COUNTY COMMUNITY
COLLEGE
REQUEST FOR PROPOSAL (RFP)
BANKING AND INVESTMENT SERVICES
1. INSTRUCTIONS TO BIDDERS
Bids must be made in accordance with the instructions contained herein and shall be submitted
on the forms furnished by Monroe County Community College (the “College”) in a sealed
envelope, plainly marked with the Bidder’s name and address.
Contacts
• Technical Questions:
Frank R. Thomas
Phone: 734-384-4202
Email: fthomas@monroeccc.edu
Denise Lindemann
Phone: 734-384-4308
Email: dlindemann@monroeccc.edu
• Bid Procedure Questions:
Kelly Heinzerling
Phone: 734-384-4275
Email: kheinzerling@monroeccc.edu
Submission Requirements
• One (1) electronic copy (flash drive/memory stick)
• Two (2) sealed hard copies
• Deliver to:
Monroe County Community College
1555 S. Raisinville Rd.
Monroe, MI 48161
Attn: #09-06.26 Banking & Investment Plan and Rates RFP
Bid Deadline
• Due: 2:00 PM, July 23, 2026
• Bids received after this time will not be accepted and will be returned unopened
• Faxed bids will not be accepted
Additional Conditions
• Public opening and reading of bids will occur in the Warrick Student Services (S
building) in Rm S-153 at 2:00 PM, July 23, 2026.
• Notice of award will be communicated via email
• The College reserves the right to reject any or all bids and select proposals in its best
interest
• The College is tax-exempt; pricing must exclude taxes
• All bids must be signed by an authorized representative
2. AWARD CRITERIA
Award will be based on the “lowest and best” proposal considering:
1. Cost and pricing structure
2. Overall value to the College
3. Reputation and performance capability
4. Conformity to specifications
5. Safety of investments
6. Liquidity
7. Interest rates offered
8. Financial strength
9. Experience with public higher education institutions
3. PURPOSE AND SCOPE
The purpose of this RFP is to select a qualified financial institution to provide:
• Banking / Treasury Management Services
• Investment Management Services
The College seeks a partner that delivers high-quality service, competitive pricing, strong
financial stability, and modern technological capabilities to enhance cash management and
investment performance.
4. MINIMUM QUALIFICATIONS
Bidders must:
• Be a federally or state-chartered financial institution
• Be a qualified depository under Michigan law
• Be a Registered Investment Advisor (SEC & State of Michigan)
• Have no FINRA disclosures
• Act as fiduciary
• Maintain required insurance:
o General Liability: $1M per occurrence / $3M aggregate
o Professional Liability (E&O): minimum $1M
• Have at least 5 years of public sector investment experience
• Maintain a Michigan office/branch
• Provide online account access
• Provide detailed fee schedules
• Agree to periodic Board reporting
• Demonstrate sufficient fixed income asset management
• CRA Ranking
5. FINANCIAL INSTITUTION INFORMATION
Provide:
• Firm history, licensing, and Michigan presence
• Key personnel qualifications and licenses
• Organizational structure and service model
• Public sector experience
• At least three (3) references (Higher Ed preferred, Hospital, or K-12)
• Disclosure of litigation (past 5 years)
• Audited financial statements
• Community Engagement
• Local Presence & Capabilities
6. BANKING / TREASURY MANAGEMENT SERVICES
Required Services
• General checking accounts
• ACH processing (payroll & AP)
• Wire transfers
• Positive Pay (check & ACH)
• Remote deposit capture
• Online banking and reporting
• Sweep and zero balance accounts (ZBA)
• Credit Card
• Merchant Services
• Money Market
Required Capabilities
• Daily balance and transaction reporting
• Integration with ERP system (Ellucian)
• Secure web-based platform
• Fraud prevention tools
Demand Deposit Requirements
• Interest options and earnings credit rate
• Funds availability policy
• Cut-off times
• Balance requirements
• Reporting tools
7. INVESTMENT SERVICES
Requirements
• Compliance with Michigan Public Act 331 of 1966
• Emphasis on safety, liquidity, and yield
• Fixed income investment management
Proposal Must Include
• Investment philosophy
• Benchmark strategy
• Portfolio management approach
• Custody arrangements
• Market monitoring/reporting process
This page summarizes the opportunity, including an overview and a preview of the attached documents.
* Disclaimer: This website provides information about bids, requests for proposals (RFPs), or requests for qualifications (RFQs) for convenience only and does not serve as an official public notice. Individuals who wish to respond to or inquire about bids, RFPs, or RFQs should contact the relevant government department directly.
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