Depository Services

The Brazos Valley Council of Governments (BVCOG) is seeking applications from eligible financial institutions to serve as banking services depository. This includes the basic service of receiving deposits, paying items, wiring funds out, receiving funds wired in, stop payments, and other normal business banking activities. This Request for Proposals (RFP) also requests banking services on behalf of the Brazos Valley Affordable Housing Corporation (BVAHC) as a combined effort. Throughout this RFP, references to BVCOG generally include BVAHC. BVCOG places a great deal of importance on the ability to perform electronic cash management, electronic access to transaction information and processing, lowest cost of service fees, and a strong bank-client relationship that offers strategic guidance in financial processes. The primary objectives of the depository agreement are an important component of the overall treasury and debt management program of BVCOG. They are as follows: To seek a bank that is capable of providing banking services and is attentive to the BVCOG money matters. To minimize the total dollars spent by BVCOG on bank services in order to be prudent and effective custodians of the taxpayer’s financial resources. To maximize the total dollars earned on certain account balances. To maintain a strong working relationship with the depository bank, and seek advice from that bank on best practices and latest technology. To adequately compensate the depository bank for services provided and to allow a reasonable profit to be earned, subject to competitive forces in the market place.