The banking services described in this RFP are directed toward four major goals: • timely and accurate transactional and summary information flows, • 100% utilization of idle funds and continuous investment of District funds, • safety of District funds and securities, • efficient utilization of available electronic banking services, and • minimization of banking costs for the District. 1. Creditworthiness In order to fulfill fiduciary responsibility and to protect public funds, each bank submitting applications shall: a. Provide a link to the latest available audited annual financial statement. The bank will be required to submit an audited statement to the District each year of the contract period, as soon as it is publicly available. Confirm agreement to this requirement. b. Provide certification of the bank’s Community Reinvestment Act (CRA) rating by its regulatory agency. c. Provide the bank’s current senior and subordinate debt ratings. If the bank has no debt or is privately owned it may, as an alternative, provide the most recent four quarters rating from an independent bank rating agency such as Highline, Veribanc, Bauer or comparable bank rating agency. d. The bank will be contractually responsible for notifying the District within thirty (30) days of any change in any of this credit or CRA ratings during the contract period. Confirm agreement to this requirement. 2. Customer Service Service will be a primary focus of the contract on a continuing basis. Describe the bank’s philosophy and approach to satisfying this need. a. How will the bank satisfy the District’s need for superior customer service? b. Is there a formal bank process or tracking for escalation of problems/issues that are unresolved? How is bank service performance measured internally? c. What does the bank do to support Humble ISD and the Humble community? d. Will bank representatives meet regularly with the District to review services? How often? e. Is the bank offering any transition or retention incentives? Describe fully and quantify completely. f. Are there any new services anticipated which might benefit the District? When will they be available? g. The District requires the right to use a third-party auditor to review the records of its accounts, collateral, transactions, and bank records at any reasonable business hours. Confirm agreement with this condition.
