A checking account for law firms with nominal or short-term client funds whose interest provides funding for legal aid services to low-income individuals and families. Attorneys deposit short-term escrow funds for clients into an IOLTA and the Michigan State Bar Foundation funds legal aid and pro bono counsel with the interest earned.
Features & Benefits
- No monthly service fee
- We manage distribution of interest
- Interest earned supports charitable purposes named by the Michigan Supreme Court
- Helps satisfy regulatory requirements
- No minimum balance requirements
Minimum Deposit to Open
Monthly Service Fee
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Fees may reduce earnings on the account.