Prime Partner Program

"Banking on Justice"

The Prime Partner program recognizes banks that support access to justice for low income Minnesotans by paying one-half percent higher interest on IOLTA accounts than is legally required.

Since the recession began in 2006, and with the continuation of historically low interest rates, Minnesota has experienced a catastrophic plunge in IOLTA revenue, from over $3 million annually to under $400,000. The loss of IOLTA revenue translates into millions less in funding for civil legal services and pro bono programs., which in turn means fewer resources to address the legal issues of Minnesota’s growing population of low income and disadvantaged people. An increase of .5% in IOLTA account interest will translate into tens of thousands in additional funding towards meeting the legal needs of legal services’ clients.

Watch an ABA video on the history of IOLTA

Prime Partner Banks

The MSBA salutes these banks for their commitment to their communities. The MSBA urges lawyers to use these banks for their IOLTA accounts and other business needs.

Community Bank (Amboy, Mankato, Vernon Center)

Riverland Bank (Jordan)

Stonebridge Bank (Minneapolis, Shakopee)

Unity Bank North (Red Lake Falls, Mentor)