The following financial institutions participate in the Bar Foundation's IOLTA program.  Please print the Notice to Financial Institution and submit this form to your bank/credit union.

PRIME PARTNERS

Prime Partner 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 Maine residents have access to critically needed legal aid.  Prime Partners pay a net interest rate on all IOLTA funds of at least 75% of the Federal Funds Target Rate or 2.00% APR, whichever is higher.  The current Prime Partner interest rate is 2.00%.  Prime Partners will be highlighted throughout the year at Bar events and publications.  

The following are our Maine Prime Partner institutions:
Bar Harbor Bank and Trust Company 2.50
Auburn Savings Bank, FSB 2.03
Biddeford Savings Bank 2.00
First Federal Savings & Loan  Assoc. of Bath 2.00
Katahdin Trust Company 2.00
Machias Savings Bank 2.00
Maine Savings Federal Credit Union 2.00
Mechanics Savings Bank 2.00
Rockland Savings Bank, FSB 2.00
Saco & Biddeford Savings Institution 2.00
TD Bank 2.00

INDEX RATE INSTITUTIONS

The revised IOLTA Rule also allows eligible financial institutions to apply an index rate of the greater of 1% or 65% of the Federal Funds Target Rate, as of July 1 of each year.   

The following institutions have been certified as eligible under the indexed rate provision:  
Androscoggin Savings Bank 1.49
Bangor Savings Bank 1.01
Camden National Bank 1.30
Damariscotta Bank & Trust Co. 1.00
Gorham Savings Bank 1.00
Key Bank, N.A. 1.30
Maine Family Federal Credit Union 1.00
Northeast Bank 1.00
Skowhegan Savings Bank 1.00
The First, N.A. 1,15-1.25
University Credit Union 1.00
Winthrop Area Federal Credit Union 1.00-1.50

OTHER ELIGIBLE INSTITUTIONS

The following financial institutions have also been certified as eligible to hold IOLTA funds in Maine pursuant to the revised Rule:  
Acadia Federal Credit Union 0.25
Atlantic Regional Federal Credit Union 0.35
Bank of America, N.A.  0.25
Bath Savings Institution 0.10
Border Trust Company 0.30
Five County Credit Union 0.20
Franklin Savings Bank 0.85
Katahdin Federal Credit Union 0.25
Kennebec Federal Savings 0.10-0.35

Kennebec Savings Bank

 0.47 - 2.00
Kennebunk Savings Bank 0.30
Lincoln Maine Federal Credit Union 0.25
Maine Bank & Trust 0.50
Merrill Bank 0.10-0.50
New Dimensions Federal Credit Union 0.25
NorState Federal Credit Union 0.30
Norway Savings Bank 0.75

Ocean National Bank

0.10-1.98
Sanford Institution for Savings 0.03-0.25
Savings Bank of Maine 0.10-0.85
Sebasticook Valley Federal Credit Union 0.30