Project Information

Bid Title

#09-06.26 Banking & Investment Plan and Rates RFP - #09-06.26 Questions from Banks & MCCC Responses

Issuing Agency

Monroe County Community College

Location

Michigan

Published Date

Jul 7, 2026

Closing Date

Jul 23, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

#09-06.26 Banking & Investment Plan and Rates RFP - #09-06.26 Questions from Banks & MCCC Responses

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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

Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services
• NAICS 541690Other Scientific and Technical Consulting Services
• NAICS 541990All Other Professional, Scientific, and Technical Services

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