Banking Services

Grayson College is seeking a qualified financial institution to serve as its Depository for banking services. The selected institution will provide basic services such as receiving deposits, paying items, sending and receiving wired funds, stop payments, time deposits, and other normal business banking activities. The college requires a depository that can provide secure, compliant, and efficient banking solutions designed to meet the operational, fiduciary, and regulatory requirements of public entities. The proposal should include information on the institution's ability to perform the required services, cost of banking services, rates offered on interest-bearing accounts, financial strength and stability, and locality. • The depository should have experience supporting municipalities, counties, school districts, higher education, and other public agencies. • The institution should maintain strong capital ratios, consistent earnings performance, and high credit ratings to ensure long-term stability and the capacity to meet the financial needs of higher education clients. • The proposal should include a written statement demonstrating and certifying that the proposer is in full compliance with the Public Funds Investment Act (PFIA). • The institution should provide a safekeeping and securities clearance service for the purchase and sale of securities.