IOLTA Account
Help those who are less fortunate with an IOLTA account from Lee Bank, designed specifically for lawyers and law firms.
This account has checking privileges for lawyers to disburse funds appropriately. Meanwhile, nominal interest is pooled with other IOLTA accounts to fund programs that provide civil legal aid for people who otherwise could not afford it. There’s no monthly service fee or minimum deposit to open — get started by opening your account today.
- No monthly service fee
- No minimum balance requirements
- Interest earned on entire balance
- Nominal interest paid to Massachusetts IOLTA Program
- Take advantage of a wide array of online services, including:
- Online banking
- eStatements
- Mobile banking and bill pay available for an additional cost
- FDIC insured
- No minimum deposit to open
Lawyers routinely hold funds for their clients. In many cases, the amounts are nominal and/or held for a short period of time. In these cases, account service fees would offset or exceed any interest earned. By depositing these funds into an IOLTA, however, they are pooled with other IOLTA deposits to generate substantial interest used to fund non-profits that provide free legal aid to low income citizens.