An IOLTA is an interest earning checking account for use by attorneys and law firms to hold client funds. These accounts are required by state law and all interest earned on the account is paid to the Oklahoma Bar Foundation to fund various programs to provide legal services.
- Meets state requirements for appropriate handling of client funds
- Competitive interest rate is paid on all collected balances
- No service fees are incurred for core deposit and check writing activity
- All account reporting and interest payments to the Oklahoma Bar Foundation are handled directly by YNB
- Convenience of maintaining the required IOLTA at YNB along with the law firm’s other business accounts
- FDIC Insurance
Monthly Service Fees
- No service fees are incurred for core deposit and check writing activity
- Fees for all other account services will be assessed and should be reimbursed to the account by the attorney/law firm on a monthly basis