Bar News - December 18, 2009
Bar Foundation News: Sugar River Bank Joins IOLTA Leadership Banks
On September 18, Cynthia L. Baron, vice president of Sugar River Bank notified the NH Bar Foundation that effective September 15, 2009 the bank increased the interest rate on their Interest on Lawyers Trust Accounts (IOLTA) program accounts to two percent to meet the requirements of an IOLTA Leadership Bank. Sugar River Bank, founded in 1895, is a locally owned and operated bank committed to the people and communities they serve. The bank operates five branches in Newport, Grantham, Sunapee, New London and Warner. "We are always looking for ways to support our communities, especially those who are in need of assistance, so becoming a Leadership Bank is a natural extension for us," stated Ms. Baron.
Sugar River Bank joins 16 other Leadership Banks in New Hampshire that have created special rates for IOLTA accounts that yield two percent or higher, exceed the bank’s standard NOW account rate and waive routine service charges.
"IOLTA Leadership Banks provide a tremendous community service. We are very grateful to count Sugar River Bank among them," says Hon. Philip S. Hollman, chair of the NH Bar Foundation.