Simplify Client Fund Management
Interest on Lawyer Accounts (IOLA) allow attorneys and law firms practicing in New York State to deposit client funds, which are small in amount or short in duration, into an account that earns dividends for the NYS IOLA Fund. The fund uses the earned dividends to provide civil, legal aid to those in need and supports improvements to the justice system.
- Tiered, dividend-bearing account
- No minimum balance fees or monthly maintenance fees
- Affordable business check options
- Insured by the NCUA up to $250,000
Check Out Our IOLA Business Checking Account Rates
Please refer to our Business Fee Schedule for the costs associated with transfers to and from other financial institutions. Fees for special services like wire transfers are charged directly to the attorney or firm's business operating account.
Establish HVCU Business Membership
To open an Interest On Lawyer Account (IOLA), you or your law firm must be registered to practice law in NYS and must be a business member at HVCU. Speak with a business relationship manager and get started today.
Invest in the Success of Your Firm
Manage payables and receivables with a simple, easy-to-use business checking account.
Start saving for future business expenses and materialize the most ambitious aspirations.
Save for future business expenses and projects. Competitive rates on higher balances and longer term periods.
Your Money Is Protected
Accounts at HVCU are Federally Insured for up to $250,000. Share insurance coverage is provided by the National Credit Union Administration (NCUA), an independent government agency that charters, regulates and insures federal credit unions. Visit mycreditunion.gov to learn more about your Share Insurance Coverage.