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News Release
Texas Access to Justice Foundation
Texas Access to Justice Foundation Honors Fort Bend and Harris
County Prime Partner Banks
The Texas Access to
Justice Foundation receives a large portion of its funding from IOLTA
accounts—a method to fund legal aid by collecting interest on lawyers’ trust
accounts—and uses this money for grants to legal aid providers in the state
that help more than 100,000 Texas families each year. Prime Partner
financial institutions pay one percent on IOLTA accounts, which is above and
beyond the eligibility requirements for banks participating in the IOLTA
program.
“By making the
choice to pay higher interest rates on IOLTA accounts, Prime Partner banks
help ensure that low-income Texans will have access to basic civil legal
services,” Richard L. Tate, chair of the board of directors for the Texas
Access to Justice Foundation, said. “During these difficult economic times,
many Texans are facing serious challenges, such as foreclosures or domestic
violence situations, and simply do not have the funds to hire an attorney.”
The Foundation
recognized Lowery Bank and NewFirst National Bank with the Prime Partners in
Justice Award for participating in the program since its inception more than
five years ago.
Other banks in Fort
Bend and Harris counties that are Prime Partners include Allegiance Bank
Texas, Central Bank, Citizens Bank, East West Bank, IBERIABANK, Independence
Bank, Southwestern National Bank and Third Coast Bank.
The Texas Access to
Justice Foundation has seen more than a 75 percent decline in IOLTA revenue
since 2007 due to the impact of low interest rates. More than 70 banks and
credit unions in the Prime Partner program help to mitigate the decline in
revenue available to fund legal aid. # # # The Texas Access to Justice Foundation (www.teajf.org), created by the Supreme Court of Texas in 1984, is the primary state-based funding source for the provision of civil legal aid in
Contact: Kimberly Schmitt
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