If you run a law firm, you know the saying: trust is everything.
But when it comes to managing client funds, that trust isn’t just personal — it’s legal. That’s where IOLTA accounts come in.
For attorneys and law firms, properly managing client trust money isn’t optional — it’s a professional and ethical requirement. Yet many firms (especially new or growing practices) don’t fully understand how IOLTA accounts work or why choosing the right financial institution matters so much.
Let’s break it down.
An IOLTA account, or Interest on Lawyers’ Trust Account, is a special type of account lawyers use to hold client funds that are either too small in amount or held for too short a time to warrant setting up individual dividend-bearing accounts. The dividends earned on these pooled funds is used to support access-to-justice programs — helping make legal services more available to those who need them most.
It’s a simple concept, but one with big implications: IOLTA programs fund civil legal aid across the country, turning everyday law firm operations into a force for good.
Managing client funds separately isn’t just a best practice — it’s required by state bar associations. Mixing trust money with a firm’s operating funds (even accidentally) can lead to major compliance issues and even disciplinary action.
That’s why having the right IOLTA account setup is crucial. It ensures:
Client funds are always clearly separated
Dividends are automatically directed to your state’s IOLTA program
Your firm stays fully compliant with all regulations
In short: it protects both your clients and your practice.
Not all financial institutions are created equal when it comes to serving law firms. Here’s what to look for:
Your financial institution must be an approved IOLTA-participating bank or credit union. APCU/Center Parc is proud to be among them.
You’ll want a team that understands the legal industry’s unique needs — from managing trust accounts to offering business checking accounts for firm operations and business savings accounts for future planning.
Choose an institution that can also assist with broader financial needs, such as merchant services for small businesses (for accepting retainers or card payments), business cash flow management, and even commercial property loans if your firm plans to expand.
“An IOLTA account doesn’t just protect your clients — it protects your reputation.”
At APCU/Center Parc Credit Union[1], we make it easy for attorneys and law firms to manage client funds responsibly and efficiently.
As a Georgia Bar-approved IOLTA institution, we offer IOLTA Trust Accounts that meet all state requirements. Plus, as a member-owned financial cooperative, we reinvest earnings back into better rates, lower fees, and stronger community support — including initiatives that align with your firm’s mission to serve others.
Every law firm, from solo practitioners to multi-partner firms, needs an IOLTA account they can rely on. With APCU/Center Parc, you’ll have a trusted resource who understands your profession, your responsibilities, and your goals.
Ready to simplify your IOLTA management? Get in touch with our Business Services team.
[1]Eligibility for Business Service Accounts at APCU/Center Parc requires opening a Consumer Primary Savings (Share) Account, which is funded by APCU/Center Parc. To open additional business accounts, you must also establish a Business Savings (Share) Account with a minimum opening deposit of $1 and maintain a daily balance of $50 to earn dividends. All deposit accounts are subject to credit approval and additional terms and conditions. Loan accounts are subject to credit qualifications, and rates may vary based on credit history and underwriting criteria. Not all applicants will qualify. Additional terms and conditions apply.
This credit union is federally insured by the National Credit Union Administration.
APCU/Center Parc is an Equal Housing Opportunity Lender.