Client Trust Accounts

What is a client trust account?

A client trust account helps business owners maintain ethical responsibility for their clients’ funds. Mountain America offers Interest on Lawyers' Trust Account (IOLTA) and real estate trust account options to help you better serve your clients.

Benefits of client trust accounts

• Keep your clients’ funds safe and separate from other business accounts
• Interest is paid directly to the State Bar Foundation or Association of Realtors
• No minimum balance required
• No fee charged directly to the account
• Monthly service charge can be waived with eStatements enrollment

Interest on Lawyers' Trust Account

If an attorney sets up an IOLTA, it is interest bearing. This interest is paid to the Bar Foundation in the state where the attorney is registered. This provides a unique and innovative way to increase access to justice for individuals and families living in poverty and to improve the justice system. Mountain America currently offers these accounts in Utah, Idaho, New Mexico and Arizona. We may consider adding other states to this program in the future.

Real estate trust account

Mountain America offers two types of real estate trust accounts: interest bearing (Utah only) and non-interest bearing (Arizona, Idaho, Nevada and New Mexico). With the Utah-based account, known as the Utah Association of Realtors Housing Opportunity Fund (UARHOF), the interest earned is sent to the Utah Association of Realtors to provide grants for low-income people who need assistance with buying a home of their own.

Open your client trust account today

Mountain America is here to help your business succeed, whether in Utah, Idaho, Arizona, Nevada, New Mexico, Montana or beyond. Meet with a business advisor today. Schedule an appointment online, call 1-888-845-1850 or visit your nearest Mountain America branch.