Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Council adopts resolution continuing banking services with Green State Credit Union
Summary
After an RFP process with eight respondents, councilmembers voted to adopt Resolution 179-2026 recommending Green State Credit Union as the city's banking services provider; staff said Green State scored highest while offering a 0-fee model and competitive yields for the city's invested balances.
The Urbandale City Council adopted Resolution 179-2026 to designate Green State Credit Union as the city's banking-services provider following a competitive RFP process. Finance Director Nikki Lam told the council that eight institutions responded to the RFP and that staff applied a scoring method that modeled expected interest earnings on the city's average balances; Green State came out on top and staff recommended continuing with them.
Lam said the city has worked with the predecessor bank for about 21 years and that the prior bank was acquired by Green State in 2019. Staff emphasized they remain comfortable with Green State and noted the institution has expressed interest in maintaining a local presence (including exploring an interactive teller machine or ATM in the Urbandale area as part of downtown revitalization efforts).
Council asked technical questions about the interactive teller machine (ITM) and whether all respondents had Urbandale locations; Nikki Lam said most respondents had Urbandale locations and that the state sinking-fund collateralization makes the city’s public deposits secure.
Council moved the resolution (motion by Bode; second by Kroll) and approved it by vote. Staff will return with an agreement for council consideration that outlines operational details.
