Partner banks make a difference

An Interest on Lawyer Account (IOLA account) is a type of attorney escrow account in which lawyers can pool the small or briefly held deposits of multiple clients. Collectively, the interest from IOLA accounts is used for grants to civil legal aid organizations across New York State.

Joining the IOLA Program

To participate in the IOLA program, a bank should submit a Comparability Report along with all other required application materials. IOLA laws and regulations require that the interest paid on IOLA account products shall be not less than the rate paid on comparable account products offered by the bank to its best customer. Comparable products include account products that bear interest and have check-writing capabilities (including accounts for business, personal and high wealth clients).

Alternatively, a participating bank may elect the Safe Harbor interest rate option, which is equal to 60% of the Federal Funds Target Rate or 1.00%, whichever is higher.

Remaining in Compliance

To insure that the approved IOLA product remains in compliance, participating banks must submit updated Comparability Reports and any supporting documentation to receive approval for any changes. Any proposed change that would result in a reduction in the effective rate of an IOLA product requires a minimum 30 days advance notice. The IOLA Fund conducts periodic reviews of the interest remittances and account reporting provided by participating banks. Participating banks must also submit Comparability Reports and any supporting documentation whenever requested by the IOLA Fund. 

Platinum and Gold Partner Banks

(As of June 2024)

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Platinum Partners

Platinum Partner Banks pay the greater of 60% of the Federal Funds Target Rate or 1.00% or more
*Banks With an Asterisk Waive Fees

1st Century Bank, a division of MidFirst Bank
Alma Bank*

Apple Bank for Savings
Banco Popular
Bank of America*
Bank of Hope*
Bank Leumi*
Bank of New York Mellon
Bank United*
Berkshire Bank (Massachusetts)
Chemung Canal Trust Co.
Citizens Bank, N.A.*
City National Bank/California
Community Bank, N.A.*
Cross County Savings Bank*
East West Bank*
Evans Bank, NA*
First Citizens Community Bank
First Horizon Bank*
Five Star Bank

Flushing Bank
Genesee Co-op FCU*
Glens Falls National Bank and Trust Company
Kearny Bank*
Key Bank Services Corp.
Lyons National Bank

M&T Bank*

Metropolitan Commercial Bank*
Modern Bank*
National Bank of Coxsackie*
Newtek Bank
Northeast Community Bank*
Pathfinder Bank
Piermont Bank*
Pioneer Savings Bank*
Royal Business Bank*
Saratoga National Bank and Trust Co.
Sterling National Bank (inactive)
Valley National Bank
Webster Bank*
Wells Fargo*

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Gold Partners

Gold Partner Banks pay the greater of 50% of the Federal Funds Target Rate or 0.50% or more 
*Banks With an Asterisk Waive Fees

Amalgamated Bank of New York*
Citizens and Northern Bank
First Heritage Federal Credit Union*
Industrial Bank*
Interaudi Bank*
J.P. Morgan Chase

New Millennium Bank*
PNC Bank*
Provident Bank*
Republic Bank*
Spring Bank*
TD Bank, NA*
Western Alliance Bank*

Other Participating Banks

Click here to view a complete list of all participating banks.

About Us

In 1983, with the strong support of the New York State Bar Association, the legislature created the New York State Interest on Lawyer Account Fund ("IOLA") as a means to provide additional financial support to civil legal service organizations.


Phone: (646) 865-1541

Support Office

The IOLA Fund of the State of New York
11 E. 44th Street, Suite #1406
New York, NY 10017