Resources

IOLTA Resources

NCUA Insurance Coverage for IOLTA Accounts in Credit Unions

On December 11, 2014, the U.S. Senate passed a bill (known as the Credit Union Share Insurance Fund Parity Act) that provides the same level of insurance coverage for IOLTA accounts held at credit unions that the FDIC provides for IOLTA accounts held at banks.

History of IOLTA in North America

The ABA Commission on IOLTA and the National Association of IOLTA Programs proudly present this production of the history of IOLTA in North America with generous support from The Florida Bar Foundation, The Law Foundation of British Columbia, and The Alberta Law Foundation.

FDIC Insurance Coverage Changes for IOLTA and Non-Interest-Bearing Accounts

As of January 1, 2013, FDIC insurance available to IOLTA accounts is $250,000 per owner of the funds (client), per financial institution, assuming that the account is properly designated as a trust account and proper accounting of each client’s funds is maintained. Non-interest-bearing trust accounts have this same level of coverage.