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Bar News - December 13, 2002 IOLTA Leadership Banks Promote Equal Justice in NH IOLTA IS A unique partnership between attorneys and banks in which interest on certain lawyer trust accounts is paid to the New Hampshire Bar Foundation. The interest from these accounts totals more than $1.3 million per year and is used to support critical legal services for low-income people and civics education in the New Hampshire schools and larger community. The New Hampshire Bar Foundation works with banks in New Hampshire to develop IOLTA products and account rates that will maximize the interest earned. The Leadership Banks listed here are those banks that have been the most generous and creative with their IOLTA account rates. With today's economy and plunging interest rates, it is a testimony to the community spirit of these banks that they have kept their IOLTA rates strong and steady during this time. Economic instability means that even more New Hampshire people are in need of the services provided by legal services organizations to help with the preservation of income, housing and safety. On behalf of thousands of New Hampshire people and school children who have benefited from IOLTA grants, the New Hampshire Bar Foundation is grateful for the commitment of these leadership banks to supporting equal access to justice and public education about the law. The Bar Foundation is also grateful to those attorneys and law firms who do their IOLTA business with IOLTA Leadership Banks, and we strongly and actively encourage all New Hampshire lawyers to request that their banks become Leadership Banks or move their accounts to the banks listed below.
New Hampshire Leadership Banks - As of September 2002 Leadership banks are those New Hampshire banks that have created a special rate for IOLTA accounts that: has an interest rate of 2 percent or higher; exceeds the bank's standard NOW account rate; and waives routine service charges.
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