Banking and Investment Services

Sacramento Housing and Redevelopment Agency ("SHRA" and "Agency") is seeking a qualified financial institution to provide comprehensive banking and investment services that support the secure, efficient, and compliant management of public funds across its housing programs. The selected partner will be expected to deliver reliable day-to-day depository services, strong cash management capabilities, interest-bearing accounts, fraud protection tools, electronic payment services, reporting, and HUD-compliant investment options that help the Agency safeguard assets while improving operational efficiency. The project is intended to modernize and strengthen banking operations through responsive service, sound internal controls, technology-enabled solutions, and a smooth implementation approach that supports both current needs and future enhancements. The Agency is especially interested in partnering with a financially stable institution that understands the needs of public-sector clients, can fully collateralize deposits as required, and can bring practical innovations that improve service, transparency, and value.

Sacramento Housing and Redevelopment Agency serves as the housing authority for both the City of Sacramento and the County of Sacramento, administering federally supported housing programs and is responsible for managing public funds in accordance with applicable HUD requirements, procurement standards, and sound financial management practices. As part of these responsibilities, the SHRA must maintain banking relationships and investment practices that protect program assets, support daily operations, and ensure that funds are handled in a secure, transparent, and fully accountable manner. HUD guidance requires public housing agencies to periodically procure banking services through a competitive process and to maintain appropriate depository agreements and allowable investment arrangements for program funds.

SHRA relies on banking and cash management services to support a wide range of financial activities, including receipt of rents and other payments, processing of accounts payable and payroll, administration of Housing Choice Voucher disbursements, maintenance of security deposits and escrowed funds, and management of short-term investments. These functions require a banking partner with the operational capacity, internal controls, technology, and customer support necessary to meet the needs of a public-sector organization operating multiple programs and accounts.

Given the importance of safeguarding public resources and maintaining efficient financial operations, the Agency is issuing this Request for Proposals to identify a qualified financial institution capable of providing dependable banking and investment services. Through this procurement, SHRA seeks to establish a banking relationship that supports compliance, service quality, financial stability, and operational efficiency over the term of the contract.