Approved IOLTA Depositories

Pursuant to a July 26, 2006 Supreme Judicial Court Order, attorneys may only hold IOLTA deposits in financial institutions that have been certified by the IOLTA Committee as an eligible financial institution. Eligible financial institutions are those that have been certified as in compliance with the interest rate comparability and other provisions of the revised Guidelines.

Financial institutions paying the higher of 75% of the Federal Funds Target Rate or 1.00% net interest on all IOLTA funds are IOLTA Leadership Institutions. We would  like to specifically recognize those institutions identified below that go above and beyond the basic requirements of the Rule, to expand access to justice in their communities.

The institutions appearing below have been certified by the IOLTA Committee, and are thus eligible to hold IOLTA deposits.

Leadership Institutions

Leadership Institutions are those that go above and beyond the eligibility requirements of the revised Rule to support the IOLTA program in its mission to ensure that low-income Massachusetts residents have access to critically needed legal aid. The current Leadership interest rate is 1.00%. Leadership Institutions will be highlighted throughout the year at Bar events and legal publications so that attorneys and law firms are aware of their contributions and exceptional support of the program.

The following are the Massachusetts Leadership Institutions:


Abington Bank
Adams Community Bank
Athol Savings Bank
Avidia Bank
Bank of Cape Cod
Bank of New England
BayCoast Bank
Cambridge Savings Bank
Cape Cod Five Cents Savings
Central One Federal Credit Union
Century Bank & Trust Company
Chelsea-Provident Cooperative
Chicopee Savings Bank
Crescent Credit Union
Edgartown National Bank
Equitable Bank
Everett Cooperative Bank

First Federal SavingsBank
Florence Savings Bank
Greylock Federal Credit Union



Holyoke Credit Union
Institution for Savings
Lee Bank
Leominster Credit Union
Marlborough Savings Bank
Martha’s Vineyard Savings Bank
Meetinghouse Bank
Merchants Bank
MutualOne Bank
Naveo Credit Union
Needham Bank
North Brookfield Savings Bank
North Cambridge Cooperative
North Middlesex Savings Bank



Randolph Savings Bank
Reading Cooperative Bank
River Works Credit Union
Rollstone Bank
Sharon Credit Union
St. Jean’s Credit Union
St. Mary’s Credit Union
The  Cooperative Bank of Cape Cod
The Village Bank
Unibank For Savings
Washington Savings Bank
Westfield Bank


Safe Harbor Institutions

The IOLTA Rule also allows eligible financial institution to apply an index, or "Safe Harbor" rate equal to the higher of 55% of the Federal Funds Target Rate or 0.75% (as of March 1, 2012). Institutions chosing the Safe Harbor rate are helping to meet the legal needs of Massachusetts residents by insuring their rate maintains a minimum level at all times and increases with other market rates.

The following institutions have been certified as eligible by selecting the "Safe Harbor" index rate option:



Bank of the Cascades

Barre Savings Bank

Jean D’Arc

Northern Bank & Trust

The Savings Bank

Webster First Federal Credit Union 





Other Eligible Institutions

For a list of other institutions that have also been certified as eligible to hold IOLTA funds in Massachusetts pursuant to the revised Rule please use the following link: Other Eligible Institutions

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