Banking and Procurement Card Services Bid

The Daniel Boone Regional Library (DBRL) is seeking proposals from qualified financial institutions to provide comprehensive banking, depository, and merchant services, with an optional request for Health Savings Account (HSA) services. The contract is scheduled to begin on January 1, 2027, and run through December 31, 2029, with the possibility of three one-year renewal options. The scope of work includes managing the General Operating Account, processing ACH transfers for approximately 192 employees, and providing merchant services for five library locations. Selected vendors must provide 24/7 online access for account management and adhere to DBRL Investment Policy 2-705 and Missouri state laws regarding collateral securities, which require the bank to maintain pledged collateral equal to 100 percent of deposits minus FDIC-insured amounts. Proposals are due by 3:00 pm on October 27, 2026, via the Beacon Bid portal. Evaluation criteria for the award include the bank's credentials, financial stability, interest rates offered on daily investment accounts, and the proximity of a branch to the Columbia Public Library. The contract may be terminated by the Board with 30 days written notice. Bidders are required to submit a Depository Bid Form including their bank history, personnel qualifications for internet support, a detailed fee schedule, and three professional references.