Whereas, in accordance with the Best Practices Survey, the Borough of Somerville solicited a Request for Proposals for primary banking services with the intent to award a contract for the defined scope of services in accordance with N.J.S.A. 19:44A-20.4 et seq. (fair and open process); and

Whereas, proposals were required to be received by the Municipal Clerk no later than April 20, 2026, at 10:00 a.m. prevailing time; and

Whereas, the Borough of Somerville received eight (8) qualified responses to the Request for Proposals; and

Whereas, an internal committee reviewed the proposals, and three (3) banking institutions were afforded an interview, which interviews were held on May 13, 2026, at the Somerville Civic Center; and

Whereas, after a review of the proposals, the interviews, and follow-up questions and responses, it was determined that Unity Bank best met the needs of the Borough of Somerville and provided the best value to the Borough of Somerville at this time; and

Whereas, the Borough wishes to memorialize the appointment of Unity Bank, 12 Mountain Avenue, Somerville, New Jersey 08876, as the primary financial institution for the Borough of Somerville.

Now, Therefore, Be It Resolved, by the Borough Council of the Borough of Somerville, County of Somerset, State of New Jersey, that Unity Bank, 12 Mountain Avenue, Somerville, New Jersey 08876, is hereby appointed as the primary financial institution for the Borough of Somerville for a contract term of three (3) years, with the option of two (2) one (1) year renewals; and

Be It Further Resolved, that the Chief Financial Officer is responsible for arranging for all funds to be correctly placed at Unity Bank; and

Be It Further Resolved, that it is hereby memorialized that the Chief Financial Officer has signed all required paperwork and is authorized to execute all required paperwork and contracts necessary to effectuate this appointment.