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Apple Bank is a Gold Partner in the IOLA Fund Program and offers IOLA accounts that help you meet your obligations as a practicing attorney. Funds in this account grow at a competitive rate and we disburse interest directly to the New York IOLA Fund on your behalf. You'll receive detailed reports to help you easily track and monitor your clients' accounts.
The New York State IOLA program facilitates New York law, which requires attorneys to deposit certain "qualified funds" received from a client or beneficial owner in an interest-bearing IOLA account. The interest paid on IOLA accounts is pooled and provides financial support for civil legal aid to the poor and to make improvements to the justice system through grants made by the New York IOLA Fund to non-profit civil legal services providers across the state. IOLAs also help law firms control administration costs on qualified individual accounts and limit fees on accounts with nominal deposits.
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