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Interest on Lawyers Trust Accounts Checking (IOLTA)

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IOLTA Checking Solutions

For attorneys or legal firms holding short-term client funds

An IOLTA is a special type of program that allows lawyers to place short-term client funds into pooled dividend-bearing accounts. The dividends are remitted directly to the Michigan State Bar Foundation to support charitable purposes.

Account Benefits

  • Earns highest available checking account rate with dividends paid directly to MI State Bar Foundation
  • No maintenance fees
  • Waived transaction fees
  • Access to most online and transactional products to manage your IOLTA

 

IOLTA Checking RateAPY*
Dividends earned on any balances 0.25% 0.25%

 

Contact a Treasury Consultant today to learn more about IOLTAs at CommunityChoice@TruTreasury.com  

 

Dividend rate effective March 1, 2021.

*APY = Annual Percentage Yield

Account owner is responsible for third party fees such as purchasing checks and other third party charges. 

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