Bid No. 26-162 RFP for City Wide Banking Services for City/Treasurer's Office

The City of Springfield, Massachusetts is soliciting sealed proposals under RFP No. 26-162 for comprehensive city-wide banking services through the City Treasurer/Collector's Office. The procurement seeks qualified, full-service banking institutions with demonstrable experience in municipal banking to serve as the City's primary banking partner. The successful proposer will be required to provide complete banking services commencing on or around January 1, 2027, under a three-year contract with compensation based on a direct fee structure. Sealed proposals must be submitted to the Office of Procurement located at 36 Court Street, Room 307, Springfield, MA 01103, by 2:00 PM on April 22, 2026. Written questions regarding the bid specifications must be submitted no later than April 10, 2026, with answers provided through numbered addenda. The procurement was publicly advertised in the Springfield Union-News on April 1, 2026, and interested parties may obtain additional information by contacting Lauren Stabilo, Chief Procurement Officer, at lstabilo@springfieldcityhall.com or (413) 787-6284, or by visiting www.springfield-ma.gov/finance/procurement.

The City of Springfield supports a twenty percent minority and women participation goal for all contracts, though no specific set-aside designation is indicated in the available documentation. No incumbent vendor information or current contractor details are specified in the solicitation materials. The procurement does not identify an explicit budget range or award value in the materials provided. The Chief Procurement Officer reserves the right to waive any informality in the bidding process and to reject any or all bids if deemed in the public interest. Prospective bidders should note that compensation will be structured on a direct fee basis, requiring them to clearly outline all proposed service fees and banking charges in their proposals.