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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. HVFCU'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.
  • Monthly Maintenance Fees Bullet 4 A
    No minimum balance fees or monthly maintenance fees
  • Fees for Special Service Bullet 4 A
    Fees for special services (such as wire transfers) charged to your business operating account.
  • Business Internet Banking Access Bullet 4 A
    Business internet banking access

Get Started

Contact a Branch Manager to Open an Account

Important Info About Opening a Business Account for a Legal Entity

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
 

IOLA Checking Account Rates ($0-$9,999.99)

APY
0.05%
DIVIDEND RATE
0.05%
MINIMUM TO OPEN
$0

IOLA Checking Account Rates ($10,000+)

APY
0.15%
DIVIDEND RATE
0.15%
MINIMUM TO OPEN
$10,000

View all rates and disclosures

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 HVFCU.
 

Contact a Branch Manager to Open an Account

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