RFP: Banking Services for Operational Accounts

REQUEST FOR PROPOSALS (RFP)
Banking Services for Operational Accounts
Issued by: New River Gorge Regional Development Authority (NRGRDA)
Issue Date: April 22, 2025
Submission Deadline: May 15, 2025

I. INTRODUCTION

The New River Gorge Regional Development Authority (NRGRDA), a nonprofit economic development organization serving Fayette, Nicholas, Raleigh, and Summers counties in West Virginia, is seeking proposals from qualified banking institutions to provide full-service banking support for its operational accounts. NRGRDA is committed to responsible financial stewardship and seeks a banking partner with the capabilities, reliability, and expertise to support our ongoing operations and regional initiatives.

II. SCOPE OF SERVICES

• Operating Accounts: Establish and maintain one or more primary depository accounts.

• Online and Mobile Banking: Secure platforms with multi-user access and administrative controls.

• Cash Management Services: Tools to optimize cash flow and provide reporting.

• ACH and Wire Services: Full support with fraud protection protocols.

• Remote Deposit Capture: Check deposit solutions.

• Fraud Prevention & Security: Positive Pay, MFA, and monitoring.

• Nonprofit Client Support: Experience with nonprofit compliance and reporting.

• Merchant Services (optional): Credit/debit card and online payment processing.

• Investment Services (optional): Low-risk investment options or money markets.

• Loan and Credit Facilities (optional): Competitive credit options.

III. PROPOSAL REQUIREMENTS

1. Cover letter and introduction.

2. Company profile and nonprofit experience.

3. Detailed list of proposed services.

4. Fee schedule and pricing structure.

5. Technology and security descriptions.

6. Branch access information.

7. Evidence of financial stability.

8. Two nonprofit/government references.

9. FDIC insurance and collateral description.

IV. EVALUATION CRITERIA

• Comprehensiveness of services

• Experience with nonprofits

• Competitive pricing

• Technology capabilities

• Customer service

• Branch accessibility

• Institutional stability

V. SUBMISSION INSTRUCTIONS

• Deadline: May 15, 2025

• Format: PDF submitted via email

• Email To: Crystal Silver-Cales, Finance Compliance Coordinator

• Email Address: [email protected]

• Subject Line: RFP Submission – Banking Services – [Institution Name]

VI. TIMELINE

• RFP Issued: April 22, 2025

• Deadline for Questions: May 1, 2025

• Proposals Due: May 15, 2025

• Selection Notification: May 16 – May 30, 2025

VII. TERMS AND CONDITIONS

NRGRDA reserves the right to reject any or all proposals, request clarification, cancel or reissue the RFP, and negotiate terms before final selection. No reimbursement will be made for proposal preparation costs.