Interest on Lawyers Trust Accounts (“ IOLTA”) is a significant funding source for legal aid in the Commonwealth, but those funds are dependent on higher interest rates. In the current rate environment there is a great disparity in the interest rate that different banks pay on IOLTA accounts, and the impact in revenue and ultimately legal services in the Commonwealth is extraordinary. Please consider placing your IOLTA funds in a Leadership Bank to maximize the benefit of your IOLTA dollars.  By banking with a Leadership Bank, you can make a difference in IOLTA funding in the Commonwealth, and with no cost to your bottom line!

In Massachusetts, more than 40 banks have signed on as Leadership Banks, agreeing to pay a preferred rate of interest to support the mission of IOLTA.   (see: https://www.maiolta.org/financial-institutions/leadership-banks). One of the easiest ways you can help increase funding for access to justice in Massachusetts is to bank at a Leadership Bank.

IOLTA is the second largest resource available in the Commonwealth to provide legal aid to the poor. The need for legal advice and representation has never been more critical. Please put your IOLTA dollars to their best use and bank with an IOLTA Leadership Bank!