RFP - Banking Services

Wor-Wic Community College and Wor-Wic Community College Foundation are requesting proposals for comprehensive banking services under a single-vendor contract with technical proposals due March 13, 2026 and price proposals due April 20, 2026 following oral presentations April 8–10.

Offerors must be FDIC-certified financial institutions in good standing with the State of Maryland and must maintain at least one branch within ten miles of the Salisbury campus during normal banking hours. Technical capability filters include a current SOC 2 Type II report, comprehensive business continuity and cybersecurity policies, and a VPAT accessibility conformance report. Required insurance includes Commercial General Liability ($1 million per occurrence, $2 million aggregate), Automobile Liability ($1 million), and Professional Liability ($1 million).

The scope spans deposit processing, account management, cash management, wire transfers, ACH processing, positive pay, online account access, and reporting across three institutional accounts: one general checking, one Insured Cash Sweep, and one payroll account for the College, plus one checking account for the Foundation. Monthly transaction volume averages approximately 3.95 million in deposit account usage with 6,141 checks paid and 170 credits posted.

The contract term is five years with an optional five-year renewal based on satisfactory performance, commencing July 1, 2026. Evaluation is weighted 70% on company background, experience, financial stability, technical capability, compliance, service quality, and accessibility; 30% on cost and value-added services. Price proposals must remain firm for 120 calendar days. Questions were due February 27, 2026; Addendum One was issued March 6, 2026. The College is tax-exempt and will not reimburse proposal-related costs.