IOLTA & RAHF Accounts
Norway Savings Bank offers special checking accounts for lawyers and realtors.
Under the Interest on Lawyer Trust Accounts (IOLTA) program, we offer interest-bearing checking accounts for lawyers’ trust accounts. The monthly maintenance fee is waived for IOLTA accounts and interest earned is transferred to the Maine Bar Foundation (MBF), which is used for various charitable legal services.
The Maine Association of Realtors has created a non-profit foundation to address the need of affordable housing in Maine. Under the Realtor’s Affordable Housing Fund (RAHF), we offer interest-bearing checking accounts for realtor trust accounts participating in the RAHF program. The monthly maintenance fee is waived for RAHF accounts and the interest earned is transferred to the Maine Association of Realtors Foundation Affordable Housing Fund.
*A minimum $25 deposit is required to open an IOLTA Account or RAHF account.