Background

The Southeast Alberta Chamber of Commerce is seeking proposals from qualified financial institutions and investment advisors to provide comprehensive business solutions. 

As a member-driven organization, we seek out services from our membership that will provide us with cost-effective and efficient solutions, so that we can focus our time, effort and resources on the members we serve. As part of these services, we need a strong financial agent for our banking and investment services to ensure a high level of service delivery and return on our investments. As such, the Southeast Alberta Chamber of Commerce is seeking out financial solutions for our business banking, merchant services, credit card and investment solutions. We would like to secure a financial institution in downtown Medicine Hat, in close proximity to our location at 413 6th Avenue SE, for our business banking.

For the investment solutions, we will evaluate combined proposals from financial institutions and proposals from other entities submitted solely for longer-term investment options.

Financial information and history can be located through the financial reports posted to the Chamber of Commerce website annual reports page: https://www.southeastalbertachamber.ca/news/annual-reports/ 

The Chamber intends to award a contract to one or more bidders who are members in good standing with the Southeast Alberta Chamber of Commerce.

Duration

The contract will be for three (3) consecutive years, with an optional extension for one or more years based on competitive pricing for a longer term contract. 

Proposal Requirements

All proposals for Business Banking must detail the following items and any associated fee details:

1. Executive Summary 
2. Management Overview
3. Community Involvement of the organization
4. Service Level Agreement – response time for requests as well as online and phone customer support
5. Guarantee on Deposits 
6. Minimum balance requirements
7. Business banking products and services overview
8. Investment and cash management solutions and current rates
9. Business internet and mobile banking services
10. Technical compatibility requirements 
11. Electronic funds transfer services and details regarding transfer process
12. Business credit card options
13. Merchant services options (payment processing, payment gateways)
14. Night deposit services
15. Account set up/transfer process
16. Authorized signatory agreement process
17. Fraud Prevention and Security Features
18. All service charges and fees for all accounts, standard sundry services and non-standard sundry services

All proposals for investment solutions must include information on short-term and long-term investment rates and options for $100,000+ term deposits, including details and withdrawal penalties.

Evaluation Criteria

The Chamber expressly reserves the right to reject any or all proposals, to waive any informalities or irregularities in the proposals, and to accept that proposal which is in the best interest of the Chamber.

In determining the award to the proposing companies, the following will be considered:

1. Member in good standing with the Southeast Alberta Chamber of Commerce
2. Evidence in proposal that the candidate understands the scope of the services to be performed.
3. Experience of the candidate in the provision of business banking services.
4. Costs quoted to perform the specified services.
5. Service Level Agreement and commitment to customer service.
6. Breadth and quality of services offered
7. Security and technology capabilities
8. References and past performance

Confidentiality

No respondent shall have the right to review or receive any information with respect to a proposal, documentation or information submitted by any other respondent. The content of the proposal and all documentation and information shall be held in confidence by the Chamber. All respondents will be notified of the successful firm’s name after the contract has been awarded.

Incurred Proposal Costs

The Chamber is not liable for any cost incurred by the firm prior to the issuance of an agreement or contract.

Unacceptable Work

If the firm awarded the contract fails to comply with any of the terms of this proposal, the Chamber may terminate the contract.

Deadline

In order to be considered for selection, proposals for services must be received in a sealed envelope clearly marked “Business Banking and Investment Services Request for Proposal” no later than 4:00 PM on Friday, August 22, 2025 at the Chamber of Commerce office, 413 6th Ave SE, Medicine Hat.

Questions and Information

Questions and communications regarding this Request for Proposal may be submitted in writing by email up to seventy-two (72) hours prior to the closing time and date to: accounts@southeastalbertachamber.ca.

No other representative of the Chamber is to be contacted regarding this Request for Proposal. The Chamber accepts no responsibility for, and the Bidder agrees not to rely upon, any verbal or written statements or representations from any other person, whether or not employed by the Chamber.