IOLTA Pooled & Individual Attorney Trust Accounts
Streamline your firm's finances with a cost-efficient IOLTA account from Salal.
Salal’s attorney trust accounts are specially designed to be cost-effective and simple to use. Our IOLTA Pooled accounts are approved by the Legal Foundation of Washington, the Oregon Law Foundation, and the State Bar of California. Account features include convenient remote check deposit and digital banking with the option of multiple sub-users for easy delegation of administrative tasks. Your team is also supported by an experienced legal trust banking officer ready to advise or help with your account when you need it.
IOLTA accounts are only available in WA, OR and CA.
Up to
2.25
A great option if you want:
- IOLTA fees charged to a separate account for easy and transparent fee recovery, keeping bookkeeping simple and administrative costs low.
- Accounts managed by experts with 20+ years of experience working with legal professionals.
What Is an IOLTA Account?
An IOLTA account (Interest on Lawyers’ Trust Account) is a type of pooled trust account used to hold small or short-term client funds that don’t justify opening individual interest-bearing accounts. These accounts are required by many state bars and are a simple, compliant way for legal professionals to manage client money without incurring administrative burdens. The interest earned is not kept by the attorney or the client—it goes toward funding legal aid services for underserved communities.
How It Works
Client funds that are nominal in amount or held for only a short period are deposited into a pooled IOLTA trust account. This interest-bearing account is managed by a financial institution like Salal, which automatically forwards the interest earned to a state-designated legal foundation (such as the Legal Foundation of Washington). Administrative fees are charged to a separate business account, helping attorneys maintain clear, compliant bookkeeping while contributing to public access to justice.
What Is an Individual Attorney Account?
An individual attorney trust account is used when client funds are significant in amount or held for a longer period, making it worthwhile for the client to receive the interest earned. Unlike an IOLTA account, the interest in an individual attorney trust account is sent to the specific client—not a public fund. These accounts are often used by law firms or sole proprietors when the circumstances require more tailored fund management.
How It Works
A separate, interest-bearing account is opened specifically for one client. The attorney deposits that client’s funds into the account, and any interest earned is credited directly to the client. This setup ensures the client receives the financial benefit while their funds are being held in trust, and it meets legal requirements for safeguarding client money.
Table Scrolls Right.
| ACCOUNT | MINIMUM DAILY BALANCE REQUIREMENT | INTEREST RATE | APY. |
|---|---|---|---|
| IOLTA POOLED | $0.01 - $9,999.99 | 0.35% | 0.35% |
| $10,000.00 - $24,999.99 | 0.50% | 0.50% | |
| $25,000.00 - $49,999.99 | 0.75% | 0.75% | |
| $50,000.00 - $99,999.99 | 1.00% | 1.00% | |
| $100,000.00 - $249,999.99 | 1.49% | 1.50% | |
| $250,000.00 - $499,999.99 | 1.74% | 1.75% | |
| $500,000.00 - $999,999.99 | 1.98% | 2.00% | |
| $1,000,000.00 + | 2.23% | 2.25% | |
| INDIVIDUAL ATTORNEY TRUST | $0.01 - $9,999.99 | 0.35% | 0.35% |
| $10,000.00 - $24,999.99 | 0.50% | 0.50% | |
| $25,000.00 - $49,999.99 | 0.75% | 0.75% | |
| $50,000.00 - $99,999.99 | 1.00% | 1.00% | |
| $100,000.00 - $249,999.99 | 1.49% | 1.50% | |
| $250,000.00 - $499,999.99 | 1.74% | 1.75% | |
| $500,000.00 - $999,999.99 | 1.98% | 2.00% | |
| $1,000,000.00 + | 2.23% | 2.25% |
APY = Annual Percentage Yield. Fees could reduce earnings on the account.
How Our Trust Accounts Simplify Client Fund Management
Our IOLTA and attorney trust accounts are built to reduce administrative friction and support compliance—so you can stay focused on your clients:
- Trust account fees are charged to a separate business account, making it easier to recover costs and keep your records compliant.
- User-friendly digital tools streamline internal workflows with features like remote check deposit and sub-user access.
- Experienced support from our legal banking team helps ensure your trust account stays compliant with state bar requirements.
Talk to an IOLTA Business Banking Expert
Sylvia See
Sr. Business Loan Officer, IOLTA & Individual Attorney Trust Accounts
P: 206.826.7848
C: 206.566.3808
SSee@SalalCU.org
Learn more about Sylvia.
Learn more about business checking accounts, savings, and financing solutions from Salal Business Services.
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