Banking Services

Beaufort County Community College (BCCC), a public two-year institution located in Washington, North Carolina, is procuring comprehensive banking services through a Request for Proposal (RFP 78-202600128) to establish a financial partnership that ensures reliability, competitive pricing, and superior customer service. The procured services include checking accounts, deposit processing, electronic funds transfer, payroll processing, positive pay services, remote deposit capture, and online account management across four distinct, non-commingled accounts: County Funds (checking), Institutional Funds (checking), State Tuition Funds (swept daily to NC Department of State Treasurer), and Payroll (direct deposit with zero balance maintenance). The College processes approximately 176 full-time and 338 part-time employee payrolls, with peak volumes during January, May, and August registration periods. Qualified financial institutions must be federally or North Carolina state chartered, designated by the NC Department of State Treasurer as an official depository, maintain current branch offices in Washington, North Carolina, and collateralize all accounts using the pooling method in compliance with NC Department of State Treasurer guidelines. Proposals will be evaluated using a best-value methodology weighted as follows: Services offered meeting required specifications (40%), Costs and interest income associated with accounts (30%), Dedicated Local Support (20%), and Proximity to BCCC's campus (10%). Vendors must submit detailed pricing for all service fees, transaction costs, implementation expenses, recent audited or reviewed financial statements, references from similar clients, and certification of financial condition. The proposal submission deadline is February 25, 2026, at 3:00 p.m. EST, with a proposal question deadline of February 9, 2026, at 5:30 p.m. EST, and contract award is anticipated for July 1, 2026.

The initial contract term is five years from the effective date, with options to renew for two additional one-year terms at the State's discretion, contingent upon approval by the BCCC Board of Trustees, the NC State Treasurer, and compliance with State of North Carolina regulations. All services, fees, and penalties must be fixed for the contract term unless otherwise justified by the vendor. The RFP does not specify set-aside designations or restrictions targeting disadvantaged enterprises or particular organization types; however, the requirement that providers maintain a local branch office in Washington, North Carolina effectively restricts competition to financial institutions with local presence in the area. No incumbent vendor or current contractor information is provided in the available documentation. The contract will become void if the selected financial institution's only local branch closes, ensuring continuity of service for the College. No specific award value or budget range is identified in the procurement materials; however, cost and interest income associated with accounts constitute 30% of the evaluation criteria, suggesting cost competitiveness is a significant factor in the selection process.