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 IOLTA
WHAT IT
IS
IOLTA (Interest on Lawyers Trust Accounts) is a law-related public
service program that strengthens our justice system. IOLTA programs
operate throughout the United States and Canada. They generate funds
that are used to support legal aid, legal education for the public,
and other activities that improve the quality of justice.
HOW IT
WORKS
The Montana Rules of Professional Conduct require attorneys to place
client funds into trust accounts separate from the attorney’s or law
firm’s own money. Funds that are either nominal in amount or those
held for too short a period of time to generate any meaningful
interest for the client are placed into pooled, interest-bearing
trust accounts. The interest generated by
these IOLTA accounts is
then collected by the Montana Justice Foundation and distributed
 in
a competitive grant process among qualified non-profit organizations
committed to achieving access to justice for all Montanans.
The Montana IOLTA program was established by Supreme Court rule in
1986 as an opt-out program. Mandatory participation in the program
was instituted in 1996 under
Rule 1.18 of the Montana Rules of
Professional Conduct.
PRIME
PARTNERS
 These institutions pay a net yield of 70 percent or more of the
Federal Funds Target Rate. They are committed to ensuring the
success of the IOLTA program and increased funding for legal aid.
Bank of Bozeman
Bitterroot Valley Bank
Community Bank – Missoula, Inc.
Mountain West Bank
U.S. Bank
Valley Bank Helena
Wells Fargo
Yellowstone Bank
HONORABLE MENTION
These institutions pay a net yield of at least 60 percent of the
Federal Funds Target Rate.
Big Sky Western Bank
First Interstate Bank – Billings
First Interstate Bank – Missoula
First Security Bank of Bozeman
Glacier Bank – Kalispell
Glacier Bank – Whitefish
Valley Bank of Kalispell
Western Security Bank
Stockman Bank
ELIGIBLE INSTITUTIONS
Eligible financial institutions meet the standards of the
eligibility requirement as defined by Rule 1.18 and currently
participate the IOLTA program. These institutions pay interest rates
below 60 percent of the Federal Funds Target Rate and may charge
service fees on IOLTA accounts.
Click
here to see the complete list of Eligible
Institutions.
ADDITIONAL INFORMATION
Information for Attorneys
Information for Banks
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IOLTA