Simplify account management and generate funds for those in need. An Interest On Lawyers Trust Account (IOLTA) pools nominal interest being held by lawyers and applies it toward covering legal services for the poor.
This account is available at no cost to you, your clients, or the public — the low $5 monthly service fee is automatically deducted from the interest. If significant earnings are ever incurred, no problem. The interest automatically remains in the account for your client.
- Generate funds to provide civil legal services for the poor
- Available at no cost to you, your clients, or the public
- Nominal interest is pooled to fund these services
- Significant interest earnings remain in account for client
- No minimum balance to earn interest
- Interest earned is paid to Tennessee Bar Foundation (TBF)
- Free online banking
- Free eStatements
- Low $5 monthly service fee is automatically deducted from interest paid to the account
- If the interest is less than $5, the service fee will equal the amount of interest
- $100 minimum deposit to open
- FDIC insured