Description
South Arkansas College is seeking a qualified depository institution to provide a full suite of banking services for the college’s deposits and financial transactions at no direct charge to the college. The contract covers interest‑bearing demand deposits, stop‑payment processing, bank bag provision, monthly statements, wire transfers, deposit slips, limited overdraft protection, research services, NSF check coverage, ACH debits, electronic transfers, and credit‑card processing, with the vendor required to submit interest rates and transaction‑fee percentages. The vendor must maintain a full‑service branch in El Dorado, Arkansas, and provide $12 M in collateral (bond or pledged securities). The award will be based on the lowest acceptable bid on the completed bid form, and the contract term is July 1 2026 – June 30 2030 with optional annual renewals through June 30 2033.
• Provide interest‑bearing accounts for total deposits of approx. $12 M and quote rates in Attachment A.
• Process ~45 stop‑payment requests, ~10 wire transfers, ~30 research transactions, and multiple ACH and credit‑card transactions per year, with fee percentages to be proposed.
• Supply bank bags, deposit slips, statements, and a dedicated contact employee; maintain a full‑service office in El Dorado and meet $12 M collateral requirements.