IOLTA
Grand Bank is here to serve your unique business needs, which is why we are an IOLTA Community Leader Bank!
What is the IOLTA Program?
IOLTA (Interest on Lawyer Trust Accounts) is a program created by a Court Rule established by the New Jersey Supreme Court. It was designed to provide funding for civil legal services to the poor, projects to improve the administration of justice, and law-related education for lay persons.
Are you an attorney who wants to open an IOLTA account? It is as easy as 1-2-3!
- First, Grand Bank will open a non-interest bearing attorney trust account. Attorney will contact IOLTA fund to obtain necessary forms.
- Next, IOLTA forms are completed by attorney and returned to the IOLTA fund.
- Lastly, if the fund determines that the account should be interest bearing, the participation form is sent to Grand Bank with a cover letter authorizing use of IOLTA tax I.D.
No minimum balance required.
Please call our branch manager at 609-514-3900 for more information!
