Prime Partner Program
The NC IOLTA Program recognizes those financial institutions that go above and beyond the IOLTA eligibility requirements in their commitment to improving access to justice in their communities. Prime Partner Institutions are those that exceed minimal compliance with the eligibility requirements of Rule .1317 to support the NC IOLTA program in its mission to ensure that low-income North Carolinians have access to critically needed civil legal aid.
Benefits of Prime Partner Participation
- Simplified compliance process
- Highlighted on Eligible Banks list as a “Prime Partner”
- Active link from NC IOLTA’s web site to Prime Partner’s bank website
- Periodic features in the NC State Bar Journal, a statewide publication distributed quarterly to all North Carolina attorneys
- Customized publicity for individual financial institutions upon request
- Documentation provided for financial institution’s CRA files upon request
Prime Partner Requirements
To be eligible for the benefits noted below, financial institutions must agree to pay a net yield (after any allowable service charges) of 75% of the Federal Funds target rate or 0.75% APR, whichever is higher, on all IOLTA accounts. The 2018 Prime Partner Rate effective May 1, 2018, through the remainder of the calendar year, is 1.31%.
Please contact Claire Mills at 919-828-0477 or firstname.lastname@example.org if you have questions about the Prime Partner Program.