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Staff recommends First National for RSU 40 banking after Camden bid missed deadline
Summary
Staff said First National offered the most responsive services in a banking RFP; Camden National's bid arrived after the cutoff and Bangor Savings would impose fees. The committee voted to accept First National's RFP and will update the full board.
Staff reported that RSU 40 issued a banking RFP to three local banks: Bangor Savings, First National and Camden National. According to staff, First National was the most persistent and responsive bidder and offered mobile banking and services for students and staff. Camden's proposal arrived several days after the cutoff and Bangor Savings indicated it would charge fees.
"We received Camden's after the cutoff," the staff member said. "Bangor Savings... is going to charge us fees, but we did look at all three."
Staff recommended awarding the district's banking business to First National for the next term (staff said they would confirm whether the preferred term is three or five years); staff also excluded scholarship accounts from the immediate transition to avoid payment disruption during scholarship season.
A committee member moved to accept First National's RFP; members voted in favor and agreed staff would provide an update to the full board in April rather than requiring a separate board action because the contract did not involve direct fees or exceed the board's bid thresholds.
The committee did not record detailed individual vote names in the transcript; the motion was recorded as carried.
