Lawyers’ Trust Accounts Board Helping to Secure Equal Access to Justice
Frankel Estate Planning & Elder Law, LLC
JOIN THE “I BANK ON JUSTICE” CAMPAIGN
The Board publicly recognizes attorneys and firms that choose to open a new IOLTA account at a Platinum Leader Bank, or move their existing IOLTA account(s) to one of the Platinum Leader Banks. An IOLTA account at a Platinum Leader Bank earns a rate of interest of .75% as compared to one at a non-Platinum Leader Bank that typically earns a rate closer to .12%. This means that if just twenty-five firms opened new IOLTA accounts with an average balance of $50,000 at a Platinum Leader Bank, that business decision alone would (over 12 months) result in $9,375 in interest income for civil legal aid grants in Pennsylvania instead of the $1,500 that would have resulted if the accounts were maintained at non-Platinum Leader Banks.
To support civil legal aid for low-income and disadvantaged Pennsylvanians, please consider joining the “I Bank on Justice” campaign by opening a new IOLTA account at a Platinum Leader Bank (there are no limits on the number of IOLTA accounts a firm may open should you wish to maintain your current account). When you open your account, you can complete the authorization form and send that along with your firm photo or logo to paiolta@pacourts.us if you would like to be featured on the IOLTA Board’s website.