The purpose of this Request for Proposal (RFP) is the procurement of banking services for the County of Sussex. The contract shall be for a period of two (2) years, with the option to renew for two (2) additional one year terms. The County reserves the right to order such services as may be required during the said period, and also reserves the right not to order any services offered by the vendor, if it is found that such services are not required by the County during the period covered by the RFP and resulting contract.
Vendors must have, at a minimum, the following qualifications:
1. Be capable of providing the services sought by the County.
2. Be a federally or state chartered bank.
3. Have experience providing banking services for similar sized organizations.
4. Be sufficiently capitalized to meet the County’s cash management needs.
5. Be a qualified depository for public funds in the Commonwealth of Virginia and conform to all Code of Virginia requirements. Deposits must be protected by federal depository insurance or collateral held under the provisions of the Virginia Security for Public Deposits Act Section 2.0-4400 et. Seq. Investments must comply with the Virginia Investment of Public Funds Act Section 2.2-4500 et. Seq.
6. Have a branch location that accepts deposits located within a reasonable distance (preferable in the County) of the Sussex County Courthouse Complex at 15074 Courthouse Road, Sussex, Virginia.