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Financial institutions provide the substance of the IOLTA program. The commitment of banks, credit unions and savings & loans to the communities they serve is reflected in their participation in IOLTA. The interest earned on attorney IOLTA accounts is helping our friends and neighbors across Wisconsin. WisTAF is proud to work with these dedicated businesses.
Financial institutions operating in Wisconsin can establish IOLTA account products. (Note: Changes to Wisconsin Supreme Court Rule 20:1.15(e)(2), which address insurance and safety requirements, went into effect on January 1, 2011. These new requirements impact financial institutions, such as credit unions, that are not insured by the FDIC.)
These financial institutions determine the amount of funds WisTAF receives by the interest rates they provide and the service fees applied to these accounts. Though no financial institution is required to establish IOLTA accounts, the majority of Wisconsin’s financial institutions participate in the IOLTA program.
For information about Wisconsin Bankers Association, visit www.wisbank.com.
For information about Wisconsin Credit Union League, visit www.theleague.coop.
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