Request for Proposals for Opt-Out Savings Program Banking Services

Banking Partner for Opt-Out Savings Program

Opening: 09/07/2023 – Closing: 09/29/2023 4:30 pm (PDT)

The Salem Housing Authority (SHA) seeks an insured financial institution (“Financial Partner”) to enter into a Memorandum of Understanding (MOU) with SHA to establish, manage, and administer savings accounts for its Rainy Day Opt-Out Savings program in development under the Asset Building Cohort of the Moving to Work Demonstration Program authorized by the US Department of Housing and Urban Development (HUD).

The Rainy Day Opt-Out Savings program will provide monthly deposits to a defined population selected randomly from program participants of the SHA Housing Choice Voucher (HCV) and Public Housing (PH) programs. Up to 100 participants will be selected in accordance with the parameters established by HUD and/or its contractor(s).

To find more information go to https://www.salemhousingor.com/rfp.