Banking Services-MSU Northern

The State of Montana issued an Invitation for Bid (DOA-IFB2016-0005V) on October 5, 2015, seeking banking services for Montana State University (MSU) Northern located in Havre, Montana. The procurement specifically targets comprehensive banking deposit and transfer services, with a bid submission deadline of October 15, 2015. The contract requires a financial institution to process and transfer banking deposits from MSU Northern to the state's primary bank, US Bank in Helena. Key deliverables include monthly maintenance services, multiple check deposit processing categories (local/clearing, on-us, and transit), deposit processing, return item management, night deposit supplies, and ACH/check debit services. The bank must provide earnings credit for daily collected funds based on the previous month's Effective Fed Funds Rate (less 25 basis points) or 90-day T-Bill Rates, with substantial monthly transaction volumes including 3,100 local/clearing check deposits, 950 on-us check deposits, 700 transit check deposits, and 200 total deposits per month.

The solicitation does not explicitly indicate specific set-aside designations or restrictions for disadvantaged enterprises. The contract was ultimately awarded to US Bank National Association for $3,529.45, suggesting an open competitive bidding process. The procurement covers Jefferson County and involves integration with existing state banking infrastructure, specifically targeting MSU Northern's financial transaction needs. The contract requires the selected bank to apply earnings credits against bank charges owed and includes provisions for various administrative and transaction-related services. While no specific budget range was detailed beyond the awarded contract value, the comprehensive nature of the services and the transaction volumes suggest a financially significant engagement. The procurement appears to be a standard competitive bid process seeking a banking partner to manage the university's financial transaction and deposit processing requirements.