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 | Rate | APY* |
|---|---|---|
| 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.