Bank Depository Services for Accounts

The Shelby County Board of Education (SCBOE) is seeking a primary depository bank to manage all Board‑fund accounts, including a general district checking account and individual school checking accounts. The award will be based on a competitive quote (Invitation to Quote) rather than a formal RFP. The contract runs from 1 July 2026 to 30 Sept 2027 (approximately 15 months) with optional one‑year extensions up to four additional years. The bank must provide a full suite of services at no charge, including daily courier pickups, monthly statements with image capture, electronic banking, ACH/ wire processing, fraud‑prevention tools, credit‑card issuance, and tax‑depository functions. Interest on deposits is calculated weekly against the Fed Funds High rate, adjusted by a bank‑proposed factor and never below a specified floor. The submission deadline is 31 Mar 2026 2:00 PM EST; quotes must be hand‑delivered or mailed (no fax).