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"Leadership Banks" Program
A Timely Initiative for Increasing IOLTA Revenues During the Economic Crisis

Whether or not your state has an IOLTA rate comparability requirement, you can potentially increase revenues right now with a well-executed "leadership banks" program.

The Texas IOLTA program has set the pace with its "Prime Partner" program, offering incentives like high visibility in the legal community to banks that go above and beyond rate comparability in the rates they pay on IOLTA accounts.

While many variations regarding bank promotion exist, we believe that simplest is best. For example, we have recommended the following to one of our IOLTA clients as the criterion for awarding "leadership bank" status:

"Leadership bank"  = a bank that pays its "comparable" IOLTA rate plus 50 basis points

Note that with such an approach, a leadership bank program can be effective in a non-comparability state as well. Here are the steps we recommend for getting a "leadership banks" program in place:

Identify all the incentives your IOLTA program can offer.

Develop a proposal you can present to banks.

Meet face-to-face with the short list of banks that hold, as a rule of thumb, a combined 80 percent of all IOLTA principal balances. Get as many as possible to sign on.

Do a mailing to the rest of the banks.

Continue to enroll banks at every opportunity over the next year or more.

Integrate the "leadership banks" program with everything you do, ranging from paid advertisements to links on your website to the banks' websites to recognition at your annual banquet to plaques or certificates that can be displayed by the banks.


About The Resource for Great Programs

 We can help with all aspects of rate comparability.

b_bullet Conduct revenue impact studies - To determine how much you could reap through a rate comparability rule and to set a fair and effective "benchmark" or "safe harbor" rate.

b_bullet Develop a rate comparability rule - To earn the same high rates for IOLTA that non-IOLTA customers get.

b_bullet Persuade bench, bar, & banks - To support your efforts for more money & fair rates.

b_bullet Implement your comparability rule - To join the multiple states we've helped to implement rules with more than 1,000 banks. Campaigns to move from voluntary to mandatory too.

b_bullet Make sense of your remit data - To understand what the rates & principal balances are.

b_bullet Learn what banks should be paying IOLTA - To level the playing field in your state.

b_bullet Foster policy innovations - To maximize revenue & strengthen your hand with banks.

b_bullet Monitor bank compliance - To ensure banks continue to comply with your rule as products, rates, & fees change.

b_bullet Forecast your future revenues -To allow you to develop reserves & stabilize grants.


The Resource's IOLTA Staff, led by Ken Smith & Kelly Thayer, would be pleased to answer your questions and help your program increase revenues. Contact us today!

Maximizing IOLTA revenue & pursuing Full Access across America since 1984.

About The Resource for Great Programs





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