IOLTA Leadership Bank Program

Choosing a Leadership or Community Leader bank can make a significant difference in the amount of funding available to support the availability of legal assistance for low-income individuals and families with civil legal problems. With historically low interest rates expected to be in place through 2011, where you bank can help!

In determining how to meet the new Best Customer Standard at their own financial institutions, the following banks decided to enroll in the IOLTA Leadership Bank* Program. These banks have agreed to pay the greater of 80% of the Federal Funds Target Rate or 1% on qualifying, high average balance accounts ($100,000 or more).

Another group of financial institutions selected an account which pays more than 1%. These are the IOLTA Community Leader Banks. Their rate choice takes them “above and beyond” in this difficult market environment. Now more than ever, we encourage attorneys and law firms to leverage their trust account balances for legal aid, advocacy and education about the law by banking at an IOLTA Community Leader Bank or a Leadership Bank. Links to information about IOLTA checking accounts at Leadership and Community Leader Banks are provided below.

All of these IOLTA-friendly banks deserve recognition for making business choices that increase the capacity of New Jersey’s legal service providers to serve individuals and families with civil legal problems and nowhere else to go for help. Often low-income and vulnerable people have legal problems affecting their most basic needs, such as food, shelter, jobs or access to health care. Legal aid provides access to justice through legal representation and assistance, enabling people who need help but cannot hire a lawyer to resolve civil legal matters with fairness and efficiency. The results are real: economic stability, peace at home, and the ability to move forward as productive members of society.

*As of March 31, 2010.

Leadership Banks

• Bank Asiana
• BNB Bank, NA
• Bogota Savings Bank
• City National Bank of New Jersey
• Community Bank of Bergen County
• First National Bank of Absecon
• 1st Constitution Bank
• Freedom Bank
• Freehold Savings and Loan Association
• Grand Bank
• Hudson City Savings Bank
• Investors Savings Bank
• Kearny Federal Savings
• Magyar Bank
• New Bank
• New Millennium Bank
• Newfield National Bank
• North Jersey Community Bank
• Ocean City Home Bank
• Oritani Savings Bank
• Parke Bank
• RSI Bank
• Saddle River Valley Bank
• Sturdy Savings Bank
• The Provident Bank
• Valley National Bank
• Woori America Bank

Community Leader Banks

• Audubon Savings Bank
• Banco Popular
• Capital Bank of New Jersey
• Franklin Bank
• GCF Bank
• Rom-Asia Bank
• TriState Capital Bank
• Wilshire State Bank