WATERBURY, Conn.–Skyline Financial Federal Credit Union said it has added Interest on Lawyers’ Trust Accounts (IOLTA) to its product menu, saying it is providing Connecticut attorneys with a “cost-effective and streamlined way to manage client trust funds.”
According to the credit union, the new IOLTA accounts come with no minimum balance requirements and no monthly maintenance fees, making them accessible to law firms of every size, from solo practitioners to established practices.
“To further simplify recordkeeping, Skyline Financial Federal Credit Union is also offering integrated QuickBooks bookkeeping connections via online banking, allowing attorneys to seamlessly track transactions and maintain compliance,” the credit union said.
‘Opened the Door’
“Waterbury is home to many great law offices, and I wanted a way to help the attorneys in Connecticut have banking products without fees or balance requirements,” President and CEO James Higgins said in a statement. “This has opened the door for newly established firms to start at the credit union and get away from the fee-based accounts elsewhere.”
