IOLTA Checking

Available exclusively to lawyers, an Interest on Lawyers Trust Account (IOLTA) simplifies account management and generates funds to provide legal services to those in need. 

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 earned. And if significant earnings are ever incurred, no problem. Those earnings will remain in the account to be used for your clients.

Summary
  • 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
  • No minimum balance to earn interest
  • Interest is paid to Tennessee Bar Foundation (TBF)
  • Low $5 monthly service fee is automatically deducted from interest paid to the account
    • If interest is less than $5, the service fee will equal the amount of interest
  • Free online banking
  • Free eStatements
  • FDIC insured
  • $100 minimum deposit to open