Interest on Lawyer Account (IOLA)
Interest on Lawyer Accounts (IOLAs) allow attorneys and law firms practicing in New York State to deposit their clients' funds into an account that earn dividends for the New York State IOLA Fund. The Fund uses the earned dividends to provide civil legal aid to those in need and support improvements to the justice system. HVCU's IOLA Business Checking Account makes managing your clients' funds easy and affordable, plus our tiered dividend rates mean the State IOLA fund can earn even more.
No minimum balance fees or monthly maintenance fees
Fees for special services (such as wire transfers) charged to your business operating account.
Business internet banking access
IOLA Business Checking Account offers:
- No minimum balance requirement
- Affordable business check options
- Business Internet Banking access
- Affordable ACH and Wire Transfers
- Tiered account with higher dividends for higher balances
Who is Eligible?
Attorneys who live or work in Dutchess, Ulster, Orange and Putnam Counties are eligible to open their business membership and IOLA Business Checking with HVCU.
Contact a Branch Manager to Open an Account
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