1. Electronic Banking & Treasury Management Services Provide a fully secured electronic banking system that does not require the addition of any proprietary software to CIHA’s server system and is capable of the following: • Processing of standard-format ACH payment files, with e-mail notifications to CIHA staff of any noted exceptions • Processing positive pay files and subsequent edit for prevention of check fraud, with e-mail notification to CIHA of any noted positive pay exceptions • Processing of intra-bank account transfers • Processing of Wire Transfer initiation • Processing of stop payment order initiation • Processing of routine balance inquiries • Processing of routine transactions inquiries • Processing of request to view/print cancelled check images on-line • Processing of remote desktop scanned checks for deposit • Processing of credit and debit card payments from customers / applicants. • Ability to establish pre-set, pre-authorized wire and ACH transfer template and $ limits not requiring additional bank or CIHA interaction • Ability to generate and print/save/export requested reports 2. Disbursement and Deposit Services Serve as CIHA’s primary depository and processor for check issuance and electronic disbursement of funds. Most deposits are made electronically to CIHA via ACH or Remote Deposit Capture. CIHA uses common check scanners (e.g. Panini Vision X) for incoming checks to deposit checks and money orders electronically. CIHA occasionally requires branch deposit services. Deposited checks should be cleared based on Bank’s published availability schedule and all cleared deposits received by the bank’s established deadline must be processed for same day credit. 3. Monthly Statements Provide monthly account statements on-line for all accounts with complete supporting documentation. All accounts must be on a monthly calendar cycle and statements should be made available no later than the first five business days after the end of each month. For checking accounts, the bank should provide both a statement listing checks in numerical order and an electronic file of canceled checks sorted in numerical order. 4. Account Analysis Monthly account analysis reports must be provided for each account and on a consolidated account basis. A complete account analysis will be required monthly regardless of the payment basis. The monthly statement must provide an analysis of the monthly interest calculation on interest-bearing accounts. If the Compensated Balances method is adopted, a monthly analysis of Compensating Balances utilized should be reported. 5. Collateral Requirements Account funds not insured by the Federal Deposit Insurance Corporation should be fully (100%) and continuously collateralized with specific and identifiable U.S. Government or Agency securities. Such securities shall be pledged and set aside in accordance with applicable law or Federal regulations. A monthly report listing all collateral securities pledged to cover deposits of CIHA must be provided. Permitted investments include only securities or obligations issued or fully insured or guaranteed by the United States, an agency or instrumentality thereof, or a United States government sponsored entity.
