AIDEA Banking and Trust Services

This solicitation seeks a qualified Alaskan financial institution to provide comprehensive banking and trust‑custodial services for AIDEA. The award was made to First National Bank of Alaska, which will manage collateralized checking accounts, payment processing, and a suite of investment custodial sub‑accounts, delivering detailed reporting and daily reconciliation. The contract begins 1 April 2024, spans an initial two‑year period (ending 31 March 2026), and includes three optional two‑year renewals, with an estimated value between $0.5 M and $1 M. Key points include: • Mandatory equity of at least $100 M and full regulatory compliance. • Required provision of five checking accounts and 32 trust sub‑accounts, with daily online access, fraud‑detection reporting, and extensive monthly/annual reporting. • Pricing based on a unit‑price cost worksheet; Alaska‑Bidder preference may reduce price by 5 %.