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Sunset selects Zions Bank for municipal banking after RFP; transition fees waived during handover
Summary
After limited responses to a request for proposals, the council approved selecting Zions Bank for the city's banking services, citing lower predictable fees (staff cited a $4.95 monthly price point for certain services for a year) and a two-month fee waiver during transition; the motion passed unanimously.
City staff recommended awarding banking services to Zions Bank after an RFP and interviews produced only a few proposals. Office Manager Nicole told the council that the mayor and staff sat in on interviews and that Zions offered a low, largely flat fee structure for standard services.
Nicole said Zions proposed keeping fees at "$4.95 for a year" for certain account services and offered to waive transition fees during the two-month changeover. She explained staff would evaluate transactions during a trial year and that the bank agreed to notify the city if fees needed to change after that period.
Mayor Scott Wiggle and council members praised staff work to reduce costs. Council member Barling moved to approve the selection; the motion was seconded and the roll call recorded unanimous support for awarding the banking services contract to Zions Bank.
What happens next: Staff will work with Zions Bank on the transition plan, monitor account activity during the first year to confirm fee stability, and manage overlapping fees while Wells Fargo remains the incumbent during the cutover.
