5369-B.PDF

The document is a Request for Proposal (RFP) No. 240172 issued by the City of Tucson, Arizona, seeking comprehensive banking services from qualified financial institutions. The RFP covers eight service groups including General Banking Services, Institutional Custody Services, Merchant Card Processing, Commercial Card Services, Payroll/Prepaid Debit Card Services, Cashiering System, Utility Payment Acceptance, and Corporate Trust Services. A pre-submittal conference is scheduled for April 5, 2024, with proposal submissions due on May 15, 2024, at 2:00 P.M. local Arizona time. The initial contract term will be three years, with options to extend for up to four additional two-year periods.

The city currently maintains 16 demand deposit accounts and 11 standalone accounts for the Tucson Housing Authority, with a target of $100 million in bank deposits. The annual transaction volume is significant, including approximately 2.8 million merchant card transactions totaling $175.8 million, 398,000 monthly check processing, 14,700 monthly ACH transactions, and various payment acceptance channels. Minimum qualifications include being a well-capitalized financial institution with a satisfactory Community Reinvestment Act rating and local banking offices in Tucson. PFM Group Consulting LLC has been retained to assist in issuing the RFP and evaluating responses, with the city's current budget standing at $2.2 billion and seeking a banking partner with robust technological integration capabilities.