Council hears staff recommendation to move city banking to US Bank; council asks for credit-union proposals

City finance staff recommended replacing the city's long-standing relationship with Wells Fargo and awarding banking services to US Bank, citing fee savings, a local branch presence and improved operational integrations. "We are recommending... giving that contract to US Bank," Finance Director Gloria told the council, saying the bank's proposal saves money and reduces logistics such as driving cash deposits out of town.

Council members raised community and procurement concerns. Council President Jessica Chilton urged staff to reopen the door to local credit unions and give them a chance to propose, noting local credit unions sponsor community events and support neighborhood organizations. Staff replied that credit unions typically lack dedicated government-banking teams and the back-office integrations municipalities need for merchant services, procurement-card programs and automated reporting. "The credit unions do not have dedicated government banking teams," staff research summarized; staff said the larger banks offer treasury platforms, remote deposit capture and merchant integrations that reduce manual reconciliation.

Mayor Massey asked whether merchant-service fees were included in the evaluation; Gloria confirmed merchant fees and procurement-card administration were included in the proposal review. Council asked for a side-by-side comparison that would transparently show merchant-service charges, integrations and any community-participation commitments from potential vendors. Staff agreed to seek credit-union proposals, to ask US Bank about community participation, and to invite a US Bank representative to a future meeting to present details.

No binding contract award or formal vote occurred during the work session; council members suggested the item return to the evening agenda after staff provide the requested comparisons and any additional proposals.