The MSBA recently honored two of its charter Prime Partner banks. On June 20th, the 14th District Bar Association honored Unity Bank North (Red Lake Falls/Mentor) at its annual district bar meeting at the Minakwa Country Club in Crookston. On June 26th, the MSBA honored Minneapolis-based Stonebridge Bank at its 9 Days in June event in Minneapolis.
At the Minneapolis event, MSBA President Phil Duran explained that lawyers’ trust account funding for legal aid has dropped from $3.8 million in 2007 to about $350,00 today. He expressed gratitude to Stonebridge Bank for its commitment to helping the community and encouraged attorneys to bank at Stonebridge and other Prime Partner banks.
The MSBA Legal Assistance to the Disadvantaged Committee established the Prime Partners Program in an effort to increase IOLTA revenues and expand access to justice in Minnesota. The program recognizes banks that have agreed to pay interest on IOLTA accounts that is .50 percent higher than required by the Minnesota Rules of Professional Conduct Rule 1.15.
Attorneys interested in learning more about the Prime Partner program or contacting one of the participating banks can find information at: www.mnbar.org/primepartner