Bar News - July 15, 2011
NH Bar Foundation: Raising the Profile of Our Leadership Banks
The NH Bar Foundation will soon be initiating a year-long program to provide greater recognition of the New Hampshire banks whose support is crucial to the Interest on Lawyers Trust Accounts program.
Community Guaranty Savings Bank
Hampshire First Bank
Bank of New Hampshire
Mascoma Savings Bank
Meredith Village Savings Bank
Merrimack County Savings Bank
Monadnock Community Bank
The Nashua Bank
Passumpsic Savings Bank
Sugar River Bank
In a time when declining interest rates and real estate market activity have combined to reduce IOLTA revenues, the steadfast support of the IOLTA Leadership Banks is especially welcome and important. (See accompanying list.)
The recognition program for Leadership Banks is one of several initiatives being pursued by a Bar Foundation committee, chaired by Richard Uchida, exploring ways to sustain or increase IOLTA revenues in a difficult environment.
The public spirit of these banks will be celebrated and promoted in several ways:
Letters suitable for Community Reinvestment Act documentation will be provided spelling out the impact of IOLTA grantees’ services in each Leadership Bank’s market area.
Certificates of appreciation will be presented to Leadership Bank officials in their home communities by Bar Foundation board members.
The Bar News, through donated advertising and targeted emails, will highlight the banks, one by one, and ensure that Bar members in the market areas of the Leadership Banks are reminded of the extraordinary commitment of the Leadership Banks to the IOLTA program.
These banks, in support of their communities and in a unique partnership with the Bar Foundation maintain special rates for IOLTA accounts that yield 2 percent or higher, exceeding the banks’ standard NOW account rate. These banks also may waive routine service charges. Leadership Banks strongly support the mission of the NH Bar Foundation and are truly committed to serving their communities.
The access to justice provided IOLTA grantee programs is needed now more than ever. Consider supporting the banks that support IOLTA. If you do not already have an IOLTA account, (made mandatory as of 3/1/11 by Supreme Court Rule 50) at one of the Leadership Banks listed here, please consider opening your account or an additional account at one of these banks for IOLTA-eligible funds.
The Leadership Banks listed in the accompanying box generously provide preferred interest rates and may waive some service charges for IOLTA accounts.