St. Mary’s Bank introduces Interest on Lawyers Trust Accounts (IOLTA) to its products and services. This special account offers above-market rates on IOLTAs and channels the interest earned on attorney escrow accounts to the New Hampshire Bar Foundation. The Bar Foundation, in turn, uses the earnings to fund free or reduced-fee civil legal services and legal education to underserved populations.
“As the nation’s first credit union, St. Mary’s Bank has always embodied the credit union philosophy People Helping People
,” explains Ron Covey, President/CEO of St. Mary’s Bank. “Our deep commitment to the community drives us to dedicate resources and seek ways to support families of modest means, and IOLTA does just that. We are proud to help provide equal access to legal services for low-income individuals and families.”
IOLTA joins St. Mary’s Bank’s comprehensive portfolio of business and commercial banking services that include checking, saving, money market, ACH and wire services, and commercial lending and real estate.