News Release
Texas Access to Justice Foundation AUSTIN, Texas – Western
Bank is the newest member of the Texas Access to Justice Foundation’s
Prime Partner Bank program. Prime Partner banks and credit unions voluntarily pay higher
interest rates on Interest on Lawyers’ Trust Accounts (IOLTA) and have a
direct impact on the amount of money available to help low-income Texans
with their civil legal issues. The Texas Access to
Justice Foundation receives funding from IOLTA accounts—a method to fund
legal aid by collecting interest on client trust accounts—and uses this
money to distribute grants to legal aid providers in the state, which help
more than 100,000 Texas families each year. Prime Partner financial
institutions pay 1 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, Western Bank and our other
Prime Partners 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. “Many Texans face serious
legal issues, such as foreclosures or domestic violence situations, and
simply do not have the funds to hire an attorney.” Western Bank has six
locations: Abilene, Big Spring, Brownwood, Coahoma, Loraine and Lubbock. It
is now one of nearly 60 banks that participate in the Prime Partner Bank
program throughout the state. “Western Bank is
committed to serving and helping our local community,” President Dan Odom
said. “We are proud to become a Prime Partner and hope the additional funds
generated will make a significant difference in the lives of disadvantaged
Texans in need of civil legal services.” More than 5.8 million Texans qualify for legal aid, and the increasing civil legal needs of the poor continue to outpace the funding available for civil legal services. Legal aid offices assist in matters dealing with family, housing, employment and consumer law, and those recovering from the effects of natural disasters. Legal Aid of NorthWest
Texas, Disability Rights Texas, and Legal Aid Society of Lubbock are among
several legal aid programs in the area that receive funding from the Texas
Access to Justice Foundation. 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. Prime Partners help to
mitigate the decline in revenue available to fund legal aid. See a current list of Prime Partner banks in Texas at: http://www.teajf.org/financial_institutions/prime_partners.aspx
# # # The Texas
Access to Justice Foundation, created by the Supreme Court of Texas in
1984, is the largest state-based funding source for the provision of civil
legal aid in Texas. The organization is committed to the vision that all
Texans will have equal access to justice, regardless of their income. The
Foundation administers a variety of funding sources, which are earmarked to
assist nonprofit organizations in providing legal aid to more than 100,000
Texas families each year. For more information, please visit: www.teajf.org. Contact: Kimberly Schmitt512-320-0099, ext. 104 kschmitt@teajf.org
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