News Release

Texas Access to Justice Foundation 
February 10,
  2020

Keystone Bank Joins Prime Partner Bank Program
Program Boosts Funding for Legal Aid in Texas
 

AUSTIN, Texas–– — The Texas Access to Justice Foundation (TAJF) proudly welcomes Keystone Bank – with locations in Austin, Bee Cave and Ballinger – as the newest member of its Prime Partner Bank program. Prime Partner banks and credit unions make a direct impact on the funding available to help low-income Texans with their civil legal issues by voluntarily paying higher interest rates for Interest on Lawyers’ Trust Accounts (IOLTA).

All attorneys that handle client funds are required to keep those funds in IOLTA accounts until they can be made available to a client. The Texas Access to Justice Foundation receives funding from the interest generated by these accounts and uses the money to distribute grants to legal aid providers throughout Texas. This funding provides legal assistance to more than 150,000 Texas families each year.

“Many Texans face serious legal issues, such as escaping situations of domestic violence or avoiding foreclosure, and simply do not have the resources to hire an attorney,” Richard L. Tate, chair of the board of directors for the Texas Access to Justice Foundation, said. “By paying higher interest rates on IOLTA accounts, Keystone Bank is helping ensure that low-income Texans have access to life-saving civil legal services.”

Due to low interest rates since 2007, as estimated $156 million in funding for legal services for low-income and disadvantaged Texans has been lost in IOLTA. Prime Partner banks pay 75 percent of the Federal Funds target rate interest on IOLTA accounts, which is above and beyond the eligibility requirements for banks participating in the IOLTA program.

“Keystone Bank is committed to making our community a better place to live and work,” Jeff Wilkinson, CEO said. “We are excited to join the Prime Partner Bank program to help improve and stabilize the lives of disadvantaged Texans who need legal help.” 

Approximately 5.5 million Texans qualify for legal aid and many are turned away simply because legal aid providers do not have the resources or funding to help everyone in need. Prime Partner banks help mitigate the decline in revenue available to fund legal aid.

Keystone Bank is now one of nearly 60 banks that participate in the Prime Partner Bank program across the state. See a current list of Prime Partner banks in Texas at: http://www.teajf.org/financial_institutions/prime_partners.aspx

-30-

The Texas Access to Justice Foundation (www.teajf.org), created by the Supreme Court of Texas in 1984, is the leading 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 150,000 Texas families each year.

A lot like Austin, Keystone Bank was founded on the principles of integrity, honesty and resilience. Today, we're helping our customers meet their financial goals by being great listeners and even better problem solvers. Give us a ring or stop by. With combined experience of more than 100 years, we know banking. But we especially know Austin banking. 

 

Contact: Kimberly Schmitt
512-320-0099, ext. 104
kschmitt@teajf.org

 

Recent News

 

Sept. 2, 2020

TAJF Adds Houston Attorney Travis Torrence to Board

Aug. 25, 2020

TAJF Names Former Texas Supreme Court Justice Deborah Hankinson as Board Chair

Aug. 12, 2020

TAJF Sponsors Five Equal Justice Works Fellows

Aug. 10, 2020

American Bar Association Appoints TAJF Executive Director to New Positions

June 25, 2020

Nearly 50 Prime Partner Banks Remain Committed to Funding Civil Legal Aid

June 9, 2020

No Justice, No Peace - By Betty Balli Torres

May 21, 2020

Jamail Endowment Supporting Legal Services for Texas Veterans Reaches $1M  

May 2020

Join us for Justice Jam - May 20  A musical fundraiser for the Emergency Legal Aid Fund

April 16, 2020

Legal Aid for Survivors of Sexual Assault Essential and Readily Available During COVID-19 Pandemic

April 9, 2020

TAJF Establishes Emergency Legal Aid Fund to Help with COVID-19 Pandemic

Mar. 24, 2020

Statement on COVID-19 and the Impact on Legal Aid

Feb. 10, 2020

Keystone Bank Joins Prime Partner Bank Program

Dec. 23, 2019

TAJF Awards Grants in Honor of John Grisham, 35th Anniversary

Nov. 6, 2019

Texas Veterans Legal Aid Week is Nov. 10-16

Oct. 28, 2019

Best-selling author John Grisham highlights TAJF's 35th Anniversary: Richard Tate Honored with Kleinman Award

Oct. 8, 2019

TAJF Adds Three New Members to Board of Directors

Sept. 12, 2019

David Insley Awarded Randall Chapman Fellowship

Aug. 12, 2019

John Grisham Will Be Special Guest at TAJF 35th Anniversary Dinner

June 10, 2019

Texas Capital Bank Joins Prime Partner Program

 

 

More news

© 2020 Texas Access to Justice Foundation