Support funding for civil justice. Bank at a Prime Partner financial institution today.
Prime Partners, listed below, are IOLTA participating financial institutions that go above and beyond IOLTA participation requirements by choosing to pay interest rates on IOLTA accounts that are at least 50 basis points (0.50 percent) higher than required under the Wisconsin Supreme Court’s IOLTA interest rate comparability requirement. The additional interest results in more funding for civil legal aid in communities throughout Wisconsin and, in return, Prime Partners receive special recognition from WisTAF.
Since September 2007, the Federal Reserve has lowered the Federal Funds Target Rate from 5.25% to a range of 0.00% to 0.25%. Because the rates on many accounts are linked to the Federal Funds Target Rate, IOLTA revenue has decreased dramatically during that period, leaving far less funding available to agencies providing legal services to those with the greatest need.
Attorneys and law firms can help sustain IOLTA and civil legal aid to low-income Wisconsinites by doing one of the following:
1. Bank at a Prime Partner financial institution.
2. If you do business with a non-Prime Partner, encourage the financial institution to become a Prime Partner by contacting the financial institution directly.
Financial institutions can contribute to the health and well-being of their communities by becoming a Prime Partner today.
What do Prime Partners receive in return for supporting their communities?
In addition to helping you meet your financial institution's objective of increased social responsibility, your Prime Partner status offers you a powerful communications and marketing tool to gain an advantage in the highly competitive legal market. In return for your commitment, your bank will benefit from special recognition, resulting in increased statewide visibility. Prime Partners will:
be highlighted as a Prime Partner on WisTAF’s publicly-available List of Eligible IOLTA Participating Financial Institutions - an important resource used extensively by attorneys in certifying their trust account status and choosing banking relationships
receive an active link from the WisTAF Web site to its own Web site via its logo image
periodically be highlighted on the WisTAF Web site in its Prime Partner Spotlight on the Web site's highly visible homepage
be highlighted in an annual Wisconsin Lawyer magazine ad. The Wisconsin Lawyer is a statewide publication distributed to all Wisconsin-licensed attorneys, judges and other subscribers (circulation: approx. 23,000)
receive publicity in other law-related newsletters/journals throughout the state
be included in letters to attorneys who open new IOLTA accounts advising them of their chosen financial institution’s Prime Partner status
have access to use the official Prime Partner logo on its marketing and communications vehicles targeted at potential customers
receive a CRA statement to use in reporting its IOLTA program participation to applicable federal and state regulatory agencies
To join WisTAF's Prime Partner program today, call or send an email to Program Assistant Tehmina Islam at 608.257.6845.