IOLTA for business banking clients

IOLTA Checking

Interest On Lawyers’ Trust Accounts (IOLTA) program is a charitable tool that funnels pooled client trust dividends to the Michigan State Bar Foundation and civil legal aid agencies. It serves to support low-income individuals and families, and to improve access to the justice system. Available to Michigan businesses only.

Our IOLTA program is just another of the many ways LMCU compounds the interests of businesses and the communities they serve.

LMCU’s Commercial Banking arm is your gateway to benefits that spread far and wide…a single place to turn to for the products and services essential to your success and growth.

For more information about the benefits of LMCU Business Banking and new IOLTA eligibility, click here to contact us.

Features

  • Free monthly eStatements delivered to the parent law firm
  • Night deposit and stop payments services available
  • NCUA insured
  • Free online banking and phone banking* service
  • Earns interest

Rates

Earn up to
0.20%APY**

Compare Rates

Account DIVIDEND RATE (INTEREST) APY**
IOLTA/IOTA - $1 - $2,499
0.00%
0.00%
IOLTA/IOTA - $2,500 - $4,999
0.15%
0.15%
IOLTA/IOTA - $5,000 - $24,999
0.15%
0.15%
IOLTA/IOTA - 25,000+
0.20%
0.20%

*Your carrier's standard data and text message rates may apply. **APY = Annual Percentage Yield. Rates as of 03/31/23. Fees may reduce earnings. Rates are subject to change after account opening. Some requirements apply. $5 minimum to open a membership.

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