Professional Services

IOLTA AND IOLA Accounts

IOLTA and IOLA accounts are innovative solutions to control a firm’s cost of administering individual client accounts and limit charges incurred on low-balance accounts. The interest earned on IOLTA and IOLA accounts is disbursed by Investors on your behalf to the New Jersey IOLTA Fund or the New York IOLA Fund. Investors also provides detailed reporting that can be customized to suit your needs, making it easy for you to track and manage your client’s funds.
 

Investors is a member of the IOLTA Leadership Bank and IOLA Platinum Partner Bank programs. Members of these programs pay a premium annual percentage rate on qualifying IOLTA and IOLA accounts.

Attorney Escrow Accounts

If you need an account with a central point of control plus client sub-accounts for fiduciary accounting, Investors Attorney Escrow account is the right choice.

Investors Attorney Escrow account allows you to maintain a single disbursement account with individual client sub-accounts. The individual escrow deposits are maintained in an interest-bearing statement savings sub-account in the client’s name.

Features and Benefits:

• Detailed Statement: Each month you receive a Partner's Summary, which provides comprehensive reporting on your escrow deposits.

• Disbursements can be easily made through Investors secure e-mail service.

• Ability to view client sub-accounts through Investors Online^SM Banking

• Meet legal and compliance requirements that prohibit commingling of customer funds

• Tax Reporting: In January of each year, Investors will provide a 1099 INT Form for interest earned over $10

• IOLTA/IOLA accounts will continue to be insured in full by FDIC through December 31, 2012.

Get Started Now

Contact Phil Kolm, Vice President, Professional Services at 201.341.3634 or
MaryLynne Andreula at 973.738.2492. Or, visit your local branch.

Efficient Management of Rental Security Deposits
Investors designed our Tenant Landlord Account specifically for landlords, building agents and property managers to help them effectively manage their tenant’s security deposits. Deposits are maintained in an interest-bearing statement savings sub-account in the tenant’s name. These sub-accounts are linked to a master escrow statement savings account in the name of the landlord—providing an easy way to track your tenant security deposits.

Features and Benefits:

• Easy Tracking and Reporting: Each month you receive a Rent Security Trial Balance which shows activity and balances for each tenant sub-account.
• The Landlord Disbursement Checking account allows landlords to write checks when closing a tenant account.
• Disbursements can be easily made through Investors’ secure e-mail service.
• You have the freedom to leave the tenant’s interest in the sub account or Investors can mail a check  payable to the individual tenant.
• Tax Reporting: In January of each year Investors will provide a 1099 INT Form for interest earned over $10.
• Sub-accounts are FDIC insured to $250,000.

Get Started Now

Visit your local branch to speak with an Investors business banker today.
Or, call 855-iBank4U (422-6548), Option 6, ext. 42954.