Request For Depository Application/Depository Services Contract

Request for Proposal

Depository Application/Depository Services Contract

RFP #901-03-16-001

Selection Committee Summary

April, 2016

Objective

OnMarch 9, 2016,the El Paso Hospital District published a Request for Proposal(RFP)for a Depository Application/Depository Services Contract. UMC is requesting applications from eligible and qualified financial institutions to serve as the Depository Bank for UMC.

Courtesy RFP notification emails were sent directly to five firms, in addition to being posted on the UMC website onMarch 9, 2016. The notification was published in the El Paso Times on March 9, 2016 and a second time on March 16, 2016.

The Financial Institution selected will mainly provide banking services as described in the RFP published.

To assure that all necessary banking issues were addressed, we consulted with First Southwest to review the RFP for completeness.

The closing date for firm inquiries was set for March 28, 2016 with the Proposal due no later than 12:00 PM on April 4, 2016. All packets were reviewed for completeness of required information.

Evaluation Factors for Award

The Selection Committee evaluated the Proposals in accordance with the following best value criteria:

Reputation of bidder and quality of service 15 Points

Ability to perform the required and requested services10 Points

Cost of banking services 10 Points

Completeness and agreement to points outlined 10 Points

in the Depository Application

Interest rates paid on interest bearing accounts, time 5 Points

deposits and investments

Financial strength and stability10 Points

Earnings credit on average available account balances 10 Points

Funds availability 5 Points

Convenience of locations 5 Points

Previous service relationship with Hospital District15 Points

Vendor references 5 Points

Selection Committee

The Selection Committee consisted of:

Marina NavarroCash Management - Manager, UMC

Leticia FloresController, UMC

Max Amaya Fiscal Services-Accountant, UMC

Leticia VenzorAssistant Controller, UMC

Diana RamirezFiscal Services-Accounting Supervisor, UMC

Deborah QuinnRevenue Coordinator – UMC Foundation

Myron LewisPharmacy - Director, UMC

Scott McIntyreManaging Director – First Southwest Asset Management

RFP’s Received

The following Financial Institution submitted a qualified Proposal for the Work:

Wells Fargo Bank, N.A.

Wells Fargo Bank, N.A. made an oral presentation to the Selection Committee on April19, 2016:

Recommendation

At the conclusion of the presentation, the Selection Committee scored and agreed to recommendWells Fargo Bank, N.A. mainly for the following reasons:

  • Wells Fargo is a strong financial institution with a strong presence in the community;
  • Wells Fargo is the existing financial institution that the Hospital District utilizes and they have provided all the services requested satisfactorily. The relationship established has always been positive;
  • Cost of banking services are reasonable as analyzed by Scott McIntyre – First Southwest Advisor;
  • The RFP was thorough and complete. The presentation to the team was well represented by bank personnel and they appear eager to help maintain and improve banking efficiencies ;
  • All the other measuring categories met the team’s expectation;

The Selection Committee therefore recommends that the President and CEO be authorized to negotiate and execute the Agreement between UMC andWells Fargo Bank, N.A.

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