Banking, Investing, and Purchase Card Services

Metropolitan Community College is seeking a financial institution to provide comprehensive banking, investment, and procurement card services under solicitation 26-7738, with a contract term running from September 1, 2024, through August 31, 2025, and potential for renewal upon mutual agreement and board approval. The selected bank must offer depository services including management of one main account, eight zero-balance accounts, and one non-interest-bearing account, with nightly sweeping of funds into an overnight repurchase agreement and issuance of safekeeping receipts. Online banking must be secure and user-friendly, and cash management must efficiently handle deposits and withdrawals. Investment services are required, along with robust reporting, data access, and record retention capabilities. Procurement card services include two distinct card programs—one for supplies and materials and another for hospitality and travel expenses—both usable worldwide with restrictions on merchant categories, daily and monthly spending limits, pre-loaded values, and an explicit prohibition on ATM cash advances. The bank must integrate its systems with MCC’s Ellucian Banner Financials to enable seamless data transmission and must designate a single point of contact for all payment-related communications. All fees must be fully disclosed in Exhibit A, with the total contract value capped at $170,000, paid in equal monthly installments, and any services exceeding this amount without amendment performed at the contractor’s sole risk. The contractor must comply with all applicable federal, state, and local laws, including specific Missouri statutes on conflict of interest (RSMo 105.452 and 105.454), business conduct, and student privacy under FERPA. They must maintain a formal, MCC-approved security and privacy program with governance, risk management, annual audits, vulnerability management, incident response, secure development, and cybersecurity training, as well as cyber-liability insurance with minimum limits of $1 million. Insurance requirements include workers’ compensation per Missouri law, automobile insurance of $1 million per occurrence and $2 million aggregate, and general liability of $1 million per occurrence. The contractor and its employees must have no pending or outstanding criminal, civil, or enforcement actions and must provide a W-9 form, proof of NASD certification and Missouri broker/dealer licensing, and documentation verifying compliance with diversity supplier participation standards. The firm must also demonstrate a commitment to local community initiatives and sponsorships. Proposals must be submitted electronically via PublicPurchase.com by June 30, 2026,