Illinois State Treasurer Request for Proposals Custody & Safekeeping Services - 370-500-27-045
IL-State-Office of the Illinois State TreasurerState · Springfield, IL- Due
- Oct 21, 2026
- 5 days left
- Posted
- Sep 23, 2026
- Contract term
- 4 years
- Primary contact
- Christopher Flynn
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THE 30-SECOND BRIEF
The Office of the Illinois State Treasurer is seeking proposals from qualified financial institutions to provide efficient and cost-effective custody and safekeeping services, demand deposit accounts, wire transfers, ACH processing, and investment sweep options under solicitation 370-500-27-045. The winning contractor must be an Illinois bank or a national bank with an Illinois presence, a member of the Federal Reserve System and Depository Trust Company, qualify as a public funds depository, and have a minimum of 10 years of relevant experience. The initial contract term is 4 years, with potential extensions up to a total of 10 years. Proposals are due by October 21, 2026, at 1:00 p.m. CT. An optional respondent's conference is scheduled for October 6, 2026, with a notice of intent required by October 1, 2026. Questions are due by October 7, 2026.
Background and Experience (20), Financial Services (40), Equity, Diversity, and Inclusion (10), Corporate Responsibility – Environmental, Social, and Governance Practices (5), Illinois Presence (10), Cost Proposals (15), Interview (5)
SUMMARY
The Office of the Illinois State Treasurer is seeking proposals from qualified financial institutions to provide efficient and cost-effective custody and safekeeping services, demand deposit accounts, wire transfers, ACH processing, and investment sweep options under solicitation 370-500-27-045.
The winning contractor must be an Illinois bank or a national bank with an Illinois presence, a member of the Federal Reserve System and Depository Trust Company, qualify as a public funds depository, and have a minimum of 10 years of relevant experience. The initial contract term is 4 years, with potential extensions up to a total of 10 years. Proposals are due by October 21, 2026, at 1:00 p.m. CT. An optional respondent's conference is scheduled for October 6, 2026, with a notice of intent required by October 1, 2026. Questions are due by October 7, 2026.
EVALUATION CRITERIA
REQUIRED ATTACHMENTS
Illinois State Treasurer Certifications, Disclosures Financial Interest and Potential Conflicts of Interest (Disclosure Form A), Disclosures Other Contract and Procurement Related Information (Disclosure Form B), Minimum Mandatory Service Requirements (Appendix D), Proposed Cost Structure (Appendix B)
- Submit to
- [email protected] or 1 East Old State Capitol Plaza, Springfield, IL 62701
- Duration
- 120 months
- Scope location
- Springfield, IL
- Reported agency
- Illinois State Treasurer's Office
Questions about this RFP
How do I respond to this RFP from IL-State-Office of the Illinois State Treasurer?
Review the full solicitation document for submission requirements, evaluation criteria, and deadlines. The submission deadline is October 21, 2026. Be sure to include all required attachments as outlined in the solicitation. Submissions should be delivered to: [email protected] or 1 East Old State Capitol Plaza, Springfield, IL 62701. For questions, contact Christopher Flynn.
Can small businesses or minority-owned firms bid on this RFP?
Most government agencies, including IL-State-Office of the Illinois State Treasurer in IL, encourage participation from small businesses, minority-owned, women-owned, and disadvantaged business enterprises (MBE/WBE/DBE). Check the full solicitation for any small business participation goals.
What happens after the RFP submission deadline?
After the deadline, the issuing agency reviews all submissions against the stated evaluation criteria. This typically includes a compliance check, technical evaluation, cost analysis, and may involve oral presentations with shortlisted vendors.
Can I ask questions about this solicitation before submitting?
Yes, most solicitations allow vendors to submit questions during a designated period. The primary contact is Christopher Flynn. Questions and answers are typically shared with all prospective bidders.
Can I search RFPs like this in ChatGPT or Claude?
Yes. Civic IQ has an MCP server that connects ChatGPT, Claude and other AI assistants to live Civic IQ data: open RFPs, pre-RFP signals from public meetings, awarded contracts and agency decision-makers across 100,000+ US public agencies. Add https://beta.mcp.civiciq.com/mcp as a connector (in ChatGPT under Settings > Apps & Connectors, in Claude under Settings > Connectors) and sign in with a free Civic IQ account at civiciq.com/mcp.
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What are the evaluation criteria for this solicitation?
This solicitation includes specific evaluation criteria that will be used to score proposals. The criteria include: "Background and Experience (20), Financial Services (40), Equity, Diversity, and Inclusion (10), Corporate Responsibility – Environmental, Social, and Governance Practices (5), Illinois Presence (10),..." Vendors should carefully align their proposals with each criterion to maximize their score.
Where can I find more RFPs from IL-State-Office of the Illinois State Treasurer?
All active and historical solicitations from IL-State-Office of the Illinois State Treasurer are tracked and searchable. As a state agency, IL-State-Office of the Illinois State Treasurer regularly publishes solicitations. Visit the agency profile to see current open bids, past contracts, vendor relationships, and decision-maker contacts.
What is the contract term for this solicitation?
The anticipated contract term is 4 years. Contract terms may include renewal options.
Is this solicitation still open for submissions?
Based on the posted deadline of October 21, 2026, this solicitation appears to still be accepting submissions. Deadlines may change through amendments or addenda, so always verify the current status directly with the issuing agency before preparing your response.
What documents are required to bid on this RFP?
Requirements vary by solicitation, but common documents include a technical proposal, cost/price proposal, proof of insurance, relevant certifications, past performance references, and any forms specified in the solicitation. This solicitation specifically requires the following attachments: Illinois State Treasurer Certifications, Disclosures Financial Interest and Potential Conflicts of Interest (Disclosure Form A), Disclosures Other Contract and Procurement Related Information (Disclos. Review the full document from IL-State-Office of the Illinois State Treasurer for the complete list.
What is the scope of this project?
This solicitation defines a specific project scope. The scope covers the following locations: Springfield, IL. Review the full solicitation for detailed scope requirements.