Post on 05-Jan-2022
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Request for Proposals for
Banking Services
Proposal #R118-03
Response Due: July 18th 2018
Inquiries and proposals should be directed to:
George Phillips-Olivier
1801 Superior Ave Suite 400
Cleveland, OH 44114
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Introduction The Council for Economic Opportunities in Greater Cleveland, (CEOGC) is a nonprofit
organization and the Community Action Agency for Cuyahoga County that assists residents in
achieving their full potential. The Council delivers education, personal and professional
development programs and support services to residents of Cuyahoga County. Programs
include Early Head Start (birth to three), Head Start (three to five years of age); individual
assessments for classes and coaching sessions on topics including parenting, anger
management and life skills; and professional development; job readiness, customer service
training and job placement. The Council also delivers the Home Energy Assistance Program
(HEAP).
This request for proposal (RFP) is to identify qualified and experienced Commercial Banking
Institutions interested in providing basic and specialized banking services as set forth in the
Scope of Services section. The selected financial institution(s) will serve as a general resource
to the CEOGC staff for information, advice, and training regarding cash management.
Additionally, respondents to the RFP may be required to provide additional or alternate services
as opportunities for improvement are identified or as the needs of CEOGC change.
It is the intention of CEOGC to award all commercial banking services to a single financial
institution, however, CEOGC reserves the right to award separate agreements for banking
services based on criteria that CEOGC determines to be appropriate. The objectives of this
solicitations are as follows:
To ensure CEOGC’s funds are adequately collateralized at all times
To take advantage of banking services and technology that increases the efficiency of
CEOGC’s operations and delivery of service
To minimize expenses while earning reasonable interest on bank balances to arrive at
the absolute lowest cost of services to CEOGC
Responders will be required to perform all services requested under this RFP, in accordance
with best practices, professional and ethical standards pertaining to the practice of Commercial
Banking Services.
Scope of Services
2.1 General Information
CEOGC is soliciting proposals from qualified institutions capable of providing a full range of
banking services. Banking services sought include, but are not limited to: concentration
accounts(s), controlled disbursements, outstanding check reconciliation, information services,
electronic funds transfer, on-line access, monthly account analysis and an operating line of
credit.
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2.2 Minimum Responder Requirements
Financial institutions submitting proposals for banking services must meet the following
minimum qualifications:
a) Must be listed as an active qualified depository by the State of Ohio Department of
Commerce
b) Must be a federally or Ohio chartered financial institution with banking facilities located in
Cuyahoga County; branches in Cleveland, OH must be able to perform the full range of
services required in the RFP
c) Must be insured by the Federal Deposit Insurance Corporation (FDIC)
d) Must be a member of the Federal Reserve System and have access to all services
e) Must be able to initiate and receive Federal Reserve System Wires
f) Must be a member of the National Automated Clearing House Association and be able
to initiate and receive Automated Clearing House (ACH) transactions
g) Must be sufficiently capitalized to accommodate the cash management needs of
CEOGC
h) Must be able to provide the services in RFP Section 9
i) Must be able to provide collateral as described in RFP section 9.06
2.3 General Account Information
CEOGC currently maintains multiple accounts in the name of the agency, from a variety of
different funding sources. Each of the funding sources may operate on different funding cycles,
with various reporting needs or requirements. The following table is a list of the major grants
and programs for the agency:
Grant/Funder Amount
Heap Administration (9/17 – 8/18) $1,434,415 Heap Winter Crisis Grant (11/1/17 – 3/31/18) $2,000,000 Cleveland Foundation Grant $200,000 CSBG (1/1/15 – 12/31/19) $6,945,326 Early Childhood Education $508,000 First Energy Service Grant $500,000 Minority Health Month 2018 $2,500 Fuel Fund First Energy (1/1/18 – 12/31/18) $69,500 PY 53 Federal Head Start (2/1/18 – 1/31/19) $26,246,648 PY 53 NON FEDERAL (2/1/18 – 1/31/19) $6,561,662 UPK 3 (8/01/17 – 7/31/18) $507,653 UPK (8/01/17 – 7/31/18) $657,850 USDA (10/1/17 – 09/30/18) $981,114
Total Grants $46,614,668
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2.4 Service Volumes
The following is a schedule of average monthly transaction volumes for some of the current
CEOGC services from our current financial institutions:
Service Avg./Monthly
Depository Services Account Maintenance 3 Regular Deposit Ticket 14 General Checks Paid 580 Stop Payments 1 Electronic/Scanned Deposits 85 General ACH Services ACH Monthly Maintenance 1 ACH Debit/Credit Originated 8 ACH Debits Received 6 ACH Credits Received 48 ACH Addenda Record Originated 40
Service Avg./Monthly
Account Reconciliation Partial Recon Monthly Maintenance Partial Reconcilement Item Web Disb. Stops and Cancels Not in Use Web Image Viewed Not in Use Web Disb. Check Inquiries-Range Not in Use Information Services Previous Day Account 599 Current Day Account 77 Previous Day Detail – 6 month storage Current Day Detail Balance Previous Day Transactions – 3 month Previous Day transactions – 6 month Current Day Transactions Disbursements – Monthly Maintenance Account Transfer Monthly Maintenance ACH Monthly Maintenance Misc. Other Charge for Invoice Printed Statement Fee
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Proposal Submission Instructions
3.1 Submission of Proposal
The Responder must submit a proposal in response to this RFP in accordance with the
instructions hereunder. By submission of a proposal, the Responder agrees to be bound to the
terms and the conditions of this RFP.
CEOGC will accept proposal(s) in accordance with the time table provided in section 3.2. It is
the responsibility of the Responder to ensure the proposal is delivered by the designated time
and date. Proposals which for any reason are not delivered within the deadline will not be
considered and will be returned unopened to the responder.
An original and five (5) copies of typewritten proposal(s), including all required certifications and
other pertinent information, must be executed and submitted in a sealed envelope or box. The
face of the envelope (or box) must contain, in addition to the address below, the RFP number
(R118-03), and the proposal description. Offers by email, or facsimile, and handwritten
proposals will not be accepted by CEOGC. Mail or hand deliver proposals to:
CEOGC
1801 Superior Ave, Suite 400
Cleveland, OH 44114
Attn: George Phillips-Olivier
3.2 Time Table
The submission of proposals to this RFP will be evaluated in accordance with the schedule
below.
Scheduled Procedure Date Time
RFP Date of Issue June 13th, 2018 Pre-Submission Conference June 28th, 2018 11:00am Deadline for Receipt of Additional Questions July 9th, 2018 Deadline for Proposal Submissions July 18th, 2018 12:00pm Committee meets to review proposals TBD Interviews of short-listed responders TBD Announce award of selected responder TBD
3.3 Pre-Submission Conference
A pre-submission conference will be held on June 28th, 2018. This pre-submission conference
will be held at the main offices of CEOGC; 1801 Superior, Suite 400, Cleveland, OH at
10:00am. Prospective responders will have the opportunity to ask questions concerning this
RFP. Although the pre-proposal conference is not mandatory, it is recommended that
prospective responders attend. Prospective responders are asked to submit written questions
in advance by c.o.b. June 25th,2018, to the address above, or to the following email so that
answers can be prepared for the meeting; gpolivier@ceogc.org.
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3.4 Confidentiality
There will be no public opening of proposals. All proposals and information concerning same
shall remain confidential until all negotiations are completed and the Notice of Award(s) is
issued. Responders are hereby notified that all proposals received by CEOGC shall be
included as part of the official contract file, therefore, any part of the proposal that is not
considered confidential, privileged or proprietary under any applicable federal, State or local law
shall be available for public inspection upon completion of the procurement process.
3.5 Interpretations and Questions
Any requests for interpretation or questions concerning this RFP must be submitted in writing to
the address noted in section 3.1 above and must be received no later than three (3) business
days prior to the date of the pre-submission conference. Inquiries must reference the RFP
number and the date for the receipt of the proposal. No interpretations shall be considered
binding unless provided in writing by CEOGC.
3.6 Preparation of Proposal
Responders are expected to examine the Scope of Services and all instructions prior to
preparing the proposal. Failure to do so will be at the responder’s risk. All costs relating to the
submission of the proposal, incurred directly or indirectly by the responder, including travel,
preparation, printing of attachments, exhibits and other miscellaneous expenses, in response to
this RFP shall be the sole responsibility of the Responder and shall be borne by the Responder.
Responders should make provisions for any and all costs and expenses related to the
performance of the Contract in their price proposal, and should identify all such costs and
expenses in the itemized breakdown of costs.
This RFP sets forth the minimum requirements that all proposals must meet. Failure to submit
proposals in accordance with this RFP may render the proposal unacceptable or non-
responsive. All written communications pertaining to this RFP should be directed to the Director
of Support Services as follows:
CEOGC
George Phillips-Olivier
Director, Support Services
1801 Superior Avenue,
Cleveland, OH 44114
Paper copies of the RFP may be picked up at the front desk of the main office of CEOGC.
Prospective responders may also download a copy of the RFP from the CEOGC website at
www.ceogc.org.
Equal Opportunity Requirements
4.1 MBE, WBE and SDB Companies
It is the policy of CEOGC and their Board to ensure that Minority Business Enterprises (MBE’s),
Women-owned Businesses (WBE’s) and Small and Disadvantaged businesses (SDB’s) are
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provided maximum opportunity to participate in all professional service contracts administered
by CEOGC; therefore, in conjunction with the performance of services under the proposed
contract, all Responders shall agree to comply with any applicable CEOGC policies concerning
Minority Business Enterprises (MBE’s), Women Business Enterprises (WBE’s); and/or Small
Disadvantaged Businesses (SDB), as such policies may be adopted or amended. CEOGC has
not established a minimum threshold for participation; however, CEOGC affirmatively promotes
Equal Opportunity in all CEOGC professional services contracts.
All MBE’s to be utilized for CEOGC contracts must be certified as an MBE or WBE by any
Federal, State or local jurisdiction in order for their participation to be acknowledged as such.
All certifications must be current. Provide a description of the work to be performed by each
firm and the proposed percentage of the total contract dollar amount that will be awarded to
each firm.
Insurance Requirements 5.1 Insurance
See RFP Section 9.6 for FDIC and other insurance requirements.
Proposal Review 6.1 Proposal Review Standards
CEOGC shall award contracts only to “Responsive Responders” who have the ability to perform
successfully under the terms and conditions of a Professional Services Contract. Therefore,
during the initial evaluation of proposals, CEOGC shall assess the responder’s responsiveness
prior to being advanced to the next stage for further consideration by the selection panel.
CEOGC’s determination of a Responder’s responsiveness shall include, but not be limited to the
following:
Proposal submitted on time
Submission complete (in accordance with instructions)
Minimum Responder requirements (Section 2.2)
Reputation (In good standing and good references)
6.2 Requests for Additional Information
In assessing the responder’s responsiveness, CEOGC may request the responder being
considered for award to submit additional information, letters, statements, and/or other such
documentation regarding any of the factors enumerated above. Failure of such Responder to
provide requested additional information within the time frame established by CEOGC may
render the Responder ineligible for further consideration.
If in the opinion of CEOGC, additional information or interpretation is necessary; such
information will be supplied in the form of an Addendum. As with the original solicitation,
CEOGC no longer provides copies of addenda. It is the responsibility of the interested party to
download the solicitation and the relevant addenda from the CEOGC website. Oral instructions
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or information concerning the specifications of the project given out by CEOGC staff, or agents
to prospective proposers shall not bind CEOGC.
Contract Award
7.1 Form of Award
Submission of a proposal constitutes acceptance of the terms and conditions of this RFP.
Further, the Responder agrees, if it is issued a written Notice of Award as the successful
Responder, to be bound by a contract whose provisions shall be substantially the same as: (1)
terms and conditions of the RFP, (2) the terms and conditions acceptable to CEOGC.
Acceptance of the Responder’s proposal to perform the services specified in this RFP will be
made by written Notice of Award from CEOGC to the successful responder.
Failure of the successful Responder, upon issuance of the Notice of Award, to execute a written
contract will render the award null and void. Responders are not entitled to rely on any
representations by any employee, member, officer or agent of CEOGC concerning the contract
award until written Notice of Award is provided by CEOGC. Responders are advised that the
contract documents may include any and all terms and conditions required by CEOGC for a
contract of this type and nature. The Notice of Award may be issued for a terms of up to three
(3) years from the date of issuance unless canceled by CEOGC without liability in its sole
discretion or superseded by execution of a written contract by and between the successful
Responder and CEOGC in accordance with the terms and provisions of this RFP.
7.2 Contract Term
The contract shall be awarded for a term of three (3) years, commencing the date specified in a
written Notice of Award issued by CEOGC of the contract executed by the parties, unless
terminated earlier as provide therein.
CEOGC reserves the right to cancel award of the contract at any time before the execution of
the contract by both parties if cancellation is deemed to be in the best interest of CEOGC. In no
event shall CEOGC have any liability for the cancellation of the award. The proposer assumes
sole risk and responsibility for all expenses connected with the preparation of the proposal.
Submission Requirements
8.1 Structure of the Proposal
In order to facilitate the evaluation of the proposal, CEOGC recommends the proposal be clearly
marked with the proposal Title, Date and the Name and Address of the Responder
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8.2 Content of the Proposal
The responder must include tin the proposal packet: (a) the executed original and five (5) copies
of the proposal and designated forms attached to this RFP, (b) the original proposal must
contain the Business Information Form included within this RFP. This form must be submitted
with the proposal signed in ink by an official authorized to represent and bind the proposing
financial institution and marked “ORIGINAL”. Each of the five proposal copies is to include a
copy of the signed business information form. (c) Proposals may include an appendix with
resumes, samples and other supporting documentation. (d) Proposals are to consist of the
following: I. cover page; ii. Response to specific proposal requirements outlined in RFP Section
9; iii Response to cost proposal must be on a separate tab.
Specific Proposal Requirements
The following sections list submission requirements which Responder must address within their
proposal. Inclusion in the following list does not necessarily indicate the requirement is a
current one for CEOGC. Each item should be a separate tab in the proposal.
9.1 Bank Overview
a) Provide an overview of the responder’s organization including the size, qualifications, years in
business, number of branches in Cuyahoga County, Ohio and other matters the responder feels
would assist CEOGC in the evaluation process
b) Provide three years of audited financial statements, including notes to financial statements.
9.2 Bank Experience
a) Describe the financial institution’s experience in providing services within the public sector,
with particular attention to non-profit and government agencies.
b) Provide a list of three clients for which the responder has provided similar services within the
past three years and a detailed description of the services provided to each. At least two of the
references should be current customers. Include the name, title address and telephone number
of an individual employed by each client who has personal knowledge of the quality of the
performance of work by the responder for the client. Include a statement consenting to allow
CEOGC to contact the references for their comment.
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9.3 Relationship Management
a) Identify bank officers and support personnel who will be assigned to the accounts of CEOGC
for purposes of customer service operations and treasury management. Include name, title,
location, email address, phone number and hours of availability for each person. Briefly detail
the credentials and experience of each person named for the relationship team. Preferably,
relationship management personnel should be based in Cuyahoga County.
b) Describe support procedures for times outside of normal business hours. Is this handled out
of area? How does the financial institution provide continuity of service?
9.4 Depository/Disbursement Accounts
a) Provide a list of the address and hours of operations for branches located in Cuyahoga
County.
b) Provide a list of branches that offer coin counting services
c) Describe availability of Treasury Management Services via phone
d) What is the cut-off time to ensure same day ledger credit for deposits?
e) Are evening, weekend, and/or holiday deposit services available?
f) How is funds availability of deposited items calculated?
g) What fraud prevention procedures are in place?
h) What on-line security features are in place?
9.5 Electronic Funds Transfer
a) Is the financial institution able to provide connection through the Automated Clearing House
(ACH) as well as the Federal Reserve for funds transfers and wires both initiation and receipt?
b) By what media doe the financial institution offer ACH and wire service initiation and
notification of receipt (e.g., internet, phone, facsimile, etc.)? Describe the procedure and cut-off
times for CEOGC initiation and notification of receipt of ACH and wire services.
c) Comment on the ability to initiate both non-repetitive ACH and wire transfers via the internet,
as well as the ability to create templates for funds transmissions to specific vendors.
d) When are incoming and outgoing ACH wire transfers posted to accounts? When is a record
of the transaction available for CEOGC’s access?
9.6 Collateralization
The financial institution must collateralize deposits in conformity with federal and state statutes
and regulations. The financial institution must demonstrate that it has the authority to pledge
collateral. CEOGC deposits at the financial institution must be insured with the FDIC to the
maximum extent available. To the extent that CEOGC deposits exceed the maximum FDIC
insurance coverage, CEOGC federal funds must be fully 100% secured by pledged collateral.
The financial institution will prepare and CEOGC will approve prior deposit of CEOGC funds, a
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collateralization plan which will conform with the requirements of all applicable federal and state
statutes and regulations.
a) Describe the ability of the financial institution to adhere to these requirements, providing
examples where similar requirements are in place with existing customers.
9.7 CEOGC Disbursements
CEOGC issues disbursements by via checks and ACH direct deposit transactions to
employees on a bi-weekly basis.
What is the format and cut-off for transmission of ACH payment data files and by what
means will the financial institution receive CEOGC data?
What is the format and cut-off for transmission of positive pay data files and by what
means will the financial institution receive CEOGC data?
How is the information concerning ACH return/reject transactions communicated?
Describe the process whereby CEOGC can delete ACH transactions before
transmission out through the ACH and retrieve ACH transactions after transmission out
through ACH.
Describe the process whereby CEOGC is notified of pay/return positive pay decisions
and by what means CEOGC is offered pay/return decision capabilities.
Describe the process for positive pay input of manual off-cycle checks and
voided/deleted checks.
Describe the process whereby CEOGC requests stop payment to a check.
Does the financial institution offer on-line image services of paid checks? If so, how
long are they available on line? Describe the ability of the financial institution to provide
CD-ROM or other archival services for paid checks front and back copy.
Is the financial institution able to provide electronic files of paid checks? If so, please
describe the format and include as a cost item in RFP Section 9.15.
9.8 Balance Earning Maximization
How does the financial institution determine the earnings Credit Rate (ECR)? Describe
the formula used to determine the ECR on collected funds, and provide a history of rates
over the previous twelve (12) months.
Describe the policy regarding carry-forward of earnings credits and charges for
uncollected funds.
Describe the “sweep” program including language regarding conformity with the
requirements for collateralization and investment of public funds
How are sweep rates determined and how often are they re-evaluated?
Include all fees in connection with the sweep process as a cost item in RFP Section
9.15.
9.9 Monthly Statements and Account Analysis
How and when would monthly statements be issued for all accounts?
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Does the statement show daily balances?
How and when would an account analysis be provided?
How are account analysis fees determined and assessed?
Are monthly statements available on-line?
Provide a sample monthly statement in both paper and on-line form.
Provide a sample analysis statement with analysis fees.
9.10 On-Line Account Information Access
Describe the ability to provide on-line banking services including information retrieval as
well as transaction initiation.
Describe user support available for on-line banking services. Include method of
accessing user support as well as available hours.
If selected for interview, please be prepared to demonstrate your on-line access
capabilities.
9.11 Disaster Recovery
In the event of a system failure, weather emergency or other disaster; describe how the
financial institution would provide uninterrupted essential banking services.
Describe any interruption of services and time to recover to normal operating conditions
following any major storm that has hit your financial institution.
How often are disaster recovery procedures tested? When were the disaster recovery
procedures last tested and updated? What were the results?
Describe off-site back-up storage facility capabilities. How long does it take to become
operational following an incident?
9.12 Other Commercial Banking Services
In addition to the services required in this RFP, CEOGC wishes to encourage proposals with
technological innovations and other services that could increase our operating efficiency, or
reduce our operating cost. Proposals for additional services offered by the financial institution
should include a description of how the proposed service is to be utilized, and the benefits to the
programs offered by CEOGC.
9.13 Implementation Plan
Provide a detailed description of the recommended implementation plan. Include training,
testing and conversion. Include a proposed implementation schedule, estimated costs, and a
description of the implementation team at the financial institution as well as the recommended
team at CEOGC.
9.14 Bank Loans
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CEOGC will be seeking a line of credit to assist with operations and cash flow. The proposal
should address all pertinent areas in regards to offering a line of credit. The line of credit should
correctly reflect the needs of an agency with an annual operating budget in excess of forty six
million dollars, as reflected in our total grants outlined in the tables shown in Section 2.3. This
includes, but is not limited to the following: a description of the loan, rate, term options,
conditions and closing costs.
9.15 Cost Proposal
The table at Section 2.4 illustrates a monthly average of some of the service volumes for
CEOGC accounts. These are provided to give a general idea of transaction volumes and are
not to be taken as a guarantee of volumes under any agreement resulting from this RFP
process.
Provide an item, or per account per month costs for these transaction service types, including
information describing volume discounts (e.g. for 1-10 items the cost is 50 cents per item but for
11 – 50 items the cost is 30 cents per item) if so applicable. Note that the cost proposal is to be
submitted as a separate section of the RFP.
9.16 Treasury Management Products
Comprehensive treasury management capabilities that will help us build and grow our business
with tools that increase efficiency and reduce expenses. From depository services to innovative
e-commerce solutions, we are in need of experienced treasury management professionals to
work with us to improve our company’s financial performance.
We are looking to accelerate collections, manage payables, automate processes and put
excess liquidity to work with the chosen Financial Institutions innovative treasury management
services. We are seeking an institution that provides cutting-edge solutions that supply the
latest technologies to create integrated processes that eliminate redundant and manual
processing. Optimize your cash flow, minimize your resource requirements and expenses, while
our automated investment services provide competitive returns on our excess cash balances.
Merchant Solutions
Corporate Credit Cards
Cash Management Products (Payables and Receivables)
E-Commerce Services
9.17 Employee Banking Programs
To help attract, retain and increase employee satisfaction by enhancing our overall benefits
package, helping save us and our over five hundred (500) employee’s time and money. We’re
committed to our employees’ financial well-being.
Services and benefits we would like to see offered our employees include:
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Financial Literacy and Training
Discounted and New Account Benefits
Loan and Product Discounts
Financial Planning to assist with employees achieving long and short term financial
goals
9.18 Community Relations
Seeking a financial partner that will support with in-kind and financial support to programs that
ore offered to our community; and look to align any programs or focuses that mirror our current
strategic plan.
Evaluation Factors
10.1 Qualifications – Financial Strength of the depository institution
10.2 Experience – In providing banking and cash management services to non-profits and
governmental clients.
10.3 Capacity – Ability to efficiently and effectively deliver banking services, demonstrated
understanding of the scope of work and ability to provide the required services, as evidenced by
ample and capable staff and a sufficient number of conveniently located branches.
10.4 Customer Service – Excellent Customer Service, including bank contacts with Cuyahoga
County to support, trouble shoot and assist in resolving problems promptly.
10.5 Implementation Plan – Provide a detailed description of the recommended
implementation plan; include training, testing and conversion. Include a proposed
implementation schedule, estimated costs, and a description of the implementation team at the
financial institution as well as the recommended team at CEOGC.
10.6 Responsiveness of Proposal – The proposal will be evaluated for clarity and
completeness of the submission including required certifications and documentation mentioned
in Section 6.1. The responder must demonstrate in the proposal(s) an understanding of the
requirements set forth in this solicitation.
10.7 Price – Quoted fees must be reasonable. The quoted fees are not subject to increase
during the effective period of the Notice of Award through the terms of the proposed contract.
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