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Interest on Lawyer Trust Accounts (IOLTA)

    Overview

    Freedom offers Interest on Lawyer Trust Accounts (IOLTA) for attorneys and law firms.

    Attorneys are required to segregate client funds from those of the attorneys or firm in an interest bearing account. An IOLTA checking account provides the attorney with a single account to manage escrowed funds. Any interest that is earned on the escrowed funds is forwarded to the PA IOLTA board, which uses the funds to provide legal services to those who are unable to afford them. Pooled interest generates $6 million annually and is used for civil legal services to Pennsylvania's poor and disadvantaged.

    IOLTA Features:

    To establish an IOLTA account please visit your local Freedom branch.