The City of Cedar Rapids is seeking proposals from highly qualified Banking Institutions for the provision of general banking, vault services, online banking, investment management, custodial, safekeeping, electronic transaction processing, merchant services and specialized cash management services for the various operating departments of the City of Cedar Rapids. This request does not include purchase card services. The objective is to obtain efficient, effective banking and investment management services, which will enhance the City’s overall cash management program while maintaining a high level of accountability. Proposers must be able to provide all services requested or have a well-established relationship with a third-party vendor to fulfill all the City’s service needs. This relationship must be no less than 5 years in duration and have a pre-determined customer service hierarchy. The City will give preference to proposals from banking institutions with business operations within Linn County Iowa that can accommodate local deposits and have provided services to entities similar in size and volume to the City of Cedar Rapids. While the City prefers to identify a single institution that can provide both banking and investment services, the City may, at its discretion and without notification to all Proposers, award banking and investment services separately, to separate institutions.
