IOLTA & IORTA

Our Interest on Lawyers Trust Accounts (IOLTAs) and Interest in Realtors Trust Accounts (IORTAs) are designed for lawyers and realtors respectively who are required by law to hold client deposits in an interest-bearing account.

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IOLTA

Interest on Lawyers Trust Accounts (IOLTAs) are accounts developed from a program mandated by the Vermont Supreme Court. It requires lawyers or law firms to establish pooled dividend-bearing accounts for client deposits. VSECU will send all dividends earned to the Vermont Bar Foundation (VBF). This money is used to support civil legal services and justice programs for those who are unable to afford such services.

FEATURES

FREE CHECKING

UNLIMITED TRANSACTIONS

FREE ONLINE ACCESS

AUTO DEPOSIT TO VBF

NO MONTHLY FEE

HIGHER DIVIDENDS




IORTA

Interest On Realtors Trust Accounts (IORTAs) are available for Realtors who are required by law to maintain a dividend-bearing account for client deposits and down payments on the purchase of a home. All dividends earned on IORTA accounts are sent to the Vermont Housing Finance Authority (VHFA). The VHFA uses this money to support grants that provide housing opportunities for individuals/families that are unable to afford such services.

FEATURES

FREE CHECKING

UNLIMITED TRANSACTIONS

FREE ONLINE ACCESS

AUTO DEPOSIT TO VHFA

NO MONTHLY FEE

HIGHER DIVIDENDS




RATES

Type APY Minimum Daily Balance to Earn APY Minimum Daily Balance to Avoid Fee Below Minimum Balance Fee Monthly Transaction Fee Monthly Fee
IOLTA Checking 1.00% $100 None None None None
IORTA Checking 1.00% $100 None None None None

Annual Percentage Yields effective as of 11/7/2016 and may change after account opening.



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You can apply for all of our deposit products by completing and mailing in the forms below or in person at any branch location. If you would like to know more about VBiz products and services, or would like assistance beginning the application process, please complete this VBiz contact form.




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