IOLTA Business Checking
Created to hold clients’ funds in trust
An Interest on Lawyer’s Trust Account through Goldenwest Credit Union offers a secure place for a lawyer or law firm to hold on to their clients’ money.
- No set-up fee
- No required opening balance
- Interest earned is directed to the State Bar
- No monthly maintenance fee
- A separate business operating account is required
Frequently Asked Questions
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What is a IOLTA Business Checking account?
An IOLTA (Interest on Lawyer’s Trust Account) Business Checking account is designed for attorneys and law firms to securely hold client funds in trust. -
What does IOLTA stand for?
IOLTA stands for Interest on Lawyer’s Trust Account. -
Who can open an IOLTA Business Checking account?
IOLTA accounts are designed for eligible attorneys, law firms and legal practices that need to hold client trust funds. -
Where does the interest earned on an IOLTA account go?
Interest earned on the account is directed to the State Bar. -
Is there a minimum opening deposit required for an IOLTA Business Checking?
No. There is no required opening balance for an IOLTA Business Checking account.