We use IOLTA interest to fund organizations in Oregon that provide legal help to people who cannot afford a lawyer, promote diversity in the legal profession, and educate the public about the law.
IOLTA makes justice for all happen.
When Oregon lawyers and licensed paralegals have client money, they put it in a special account. This account is called an Interest on Lawyer Trust Account or IOLTA.
Banks and credit unions add up the interest from all the IOLTAs of their Oregon customers. Then they send that interest to the Oregon Law Foundation. When lawyers use Oregon Law Foundation Leadership Banks & Credit Unions, we get extra money. Leadership Banks & Credit Unions have agreed to pay interest rates well above what regular accounts pay.
The greatest part is that it does not cost clients or legal practitioners anything, and everyone gets a little more justice for all.