Banking Services

Isothermal Community College is seeking comprehensive banking services through a Request for Proposal (RFP) #102-358, targeting financial institutions capable of supporting the college's operational and financial needs across Sampson County and Sea Breeze CDP in North Carolina. The procurement aims to establish a banking partnership that ensures reliability, competitive pricing, and superior customer service while complying with local, state, and federal regulations. Required banking services include managing multiple deposit accounts, electronic payment processing, online account management, and fraud protection. The successful vendor must maintain a local branch within the college's geographic boundaries and demonstrate capability to handle complex payment processing. The college's monthly account activity involves 138 checks deposited, 4,000 currency/coin deposits, 175 ACH items deposited, 525 checks written, and 425 outgoing ACH items, with an average daily balance of $3,187,912. The evaluation will utilize a best value approach, awarding points across financial institution qualifications, proposed services, cost, support, references, and implementation schedule. Key dates include a non-mandatory pre-proposal conference on May 6, 2025, at 10:00 AM EST, with proposal submissions due by May 21, 2025, at 2:00 PM ET.

The RFP does not explicitly indicate specific set-aside designations or restrictions for disadvantaged enterprises. The initial contract term will be one year, with potential renewals for up to two additional one-year terms. While no incumbent vendor is mentioned, the RFP requires the selected financial institution to be a registered entity with regulatory oversight. The document does not specify a precise budget range or award value, but implies a substantial financial relationship given the average daily account balance and complex transaction volume. Prospective vendors must be prepared to integrate with the college's existing financial systems and demonstrate technological capabilities for managing institutional and county funds. The comprehensive nature of the RFP suggests the college is seeking a robust, long-term banking partnership that can provide flexible, technologically advanced financial services while maintaining fiscal responsibility and supporting the institution's educational mission.