Your Financial Toolkit:

Who can provide the right financial tools for your charter school?presented by SEFCU

Today’s Talking Points

You can use the RFP process to discover the right financial and insurance partners to aid

in:

• Maximizing your operating budget• Weathering difficult business cycles• Accessing capital/credit during a difficult economic

environment• Acquiring cost effective insurance services & programs

This is an informal presentation…Please stop and ask This is an informal presentation…Please stop and ask questions as they arise questions as they arise

The RFP Process

• A request for proposal is a tool for obtaining offers from competing organizations and evaluating those proposals against stated requirements, using predetermined evaluation criteria.

• For Financial & Insurance Services RFP’s, price alone should not be the only selection criteria.

RFP Essentials for Financial and Banking Services

Proposal Requirements

• State the goals for the RFP. Who and what are you looking for.

• Provide your background. What is your history and your mission. What are your challenges and what have you accomplished.

• What is your timeline. What do you need and when do you need it by.

RFP Essentials for Financial and Banking Service

Proposal Requirements

Selection Criteria

• Delivery of service• Available programs and services• Experience and background of the individual

account manager and support staff• References• Quality of presentation• Fee proposal

RFP Essentials for Financial and Banking Services

Proposal Requirements

Other important issues to consider

• Account Structure• Credit Options• Investment Options• Compliance Requirements• The Extras

• Available Financial Education and Literacy Programs• Free Banking Services• Community Discounts• Scholarship programs• Community and Industry Support

RFP Essentials for Insurance & Risk Services

Proposal Requirements

• State the purpose of the invitation to propose

• Give the background and mission of your organization

• Detail the scope of services requested

• Schedule and submission deadlines

RFP Essentials for Insurance & Risk Services

Proposal RequirementsSelection criteria should include:

• Company history• Industry experience/provide a list of industry clients served• Experience and background of individual project team

members• At least three references• Quality of presentation• Company’s involvement in its community• Organizational chart of team who service account• Special expertise of firm• How does firm support your industry outside the scope of

broker relationship

RFP Essentials for Insurance & Risk Services

Proposal Requirements

Account administration considerations

• Strategies for policies renewals and marketing• Process and commitment to compensation

transparency/professional standards• Claims administration• Company’s experience with trends in the industry• Safety and loss prevention services• What type of technologies are utilized to assist

clients• Fee proposal

In Summary

The right Financial and Insurance Partners can provide your charter

school with very valuable tools to help with your long term mission and

economic goals

In Conclusion

At your request, we can provide you with sample banking and insurance

RFP’s for your use.

Thank you!!!