IOLTAs

Questions about our IOLTAs?

Visit a Branch Location near you, or
Contact our Customer Care Team.

You may also call 800-794-2070 and we will be happy to assist you.

Ioltas

Bridgeview Bank is an approved financial institution by the Lawyers Trust Fund of Illinois as a participant in the Interest on Lawyer Trust Accounts (IOLTA) program. This unique partnership between the banking community and the legal profession provides hundreds of thousands of people across the country the legal help they need.

Bidgeview Bank IOLTA checking accounts are limited to attorneys and law firms that maintain escrow funds for multiple clients. An IOLTA checking account pools the funds into a single, interest bearing account. Interest earned, less any allowable reasonable service fees, is forwarded by Bridgeview Bank Group to the Lawyers Trust Fund of Illinois to fund legal expenses for those who are unable to afford legal services, and other justice related projects of the board.

WHY AN IOLTA

Bridgeview IOLTAs are an easy way for lawyers to hold funds in a trust or escrow account for their clients. If you are an attorney who handles nominal or short-term client funds that cannot earn interest for that client in excess of the costs incurred to collect the interest, Bridgeview Bank assists you with pooling the money into an interest bearing account and distributing the interest to the Lawyers Trust Fund of Illinois.

IOLTA BENEFITS:

  • Meet certain State and Supreme Court compliance requirements
  • More effectively manage client funds
  • No minimum balance and no monthly maintenance fee
  • Enjoy convenient online banking access and free checks
  • Unlimited monthly transactions
  • Detailed monthly statement
  • Interest earned on the entire account balance
  • Earn competitive interest distributed each month to the Lawyers Trust Fund of Illinois
  • Make a positive impact in the community

 

According to the American Bar Association, IOLTA programs have helped fund numerous programs that have had a positive impact on the delivery of legal services to the poor, including loan repayment assistance programs, legal assistance hotlines, victim services programs, minority lawyer recruitment initiatives, and law school scholarship programs.

To learn more about IOLTAs, stop by any of our Chicagoland locations and a Personal Banker will be happy to assist you. You may also contact our Customer Care Center at or by calling 800-794-2070.