MSUFCU's Interest on Lawyers' Trust Accounts (IOLTA) program allows lawyers to place certain nominal and short-term client funds into a pooled dividend-bearing account.
These dividends are remitted by MSUFCU directly to the Michigan State Bar Foundation to support charitable purposes. These funds, allocated by the Michigan State Bar Foundation, help Michigan's legal service providers assist the state's most vulnerable residents with problems such as domestic violence, child support, health care, and other critical needs.
• MSUFCU manages distribution of dividends
• Dividends earned supports charitable purposes named by the Michigan Supreme Court
• Helps satisfy regulatory requirements
• No additional IOLTA fees
• Earns Dividends
•Minimum Deposit to Open ($5.00 Business Spartan Saver).
• Notice to Eligible Financial Institution, and MSUFCU Addendum forms signed by ALL SIGNERS on account (This includes Responsible Individuals and Authorized Signers on the account). The Notice to Eligible Financial Institution and MSUFCU Addendum will serve as the IOLTA disclosure.
At least one of the following:
• Doing Business As (DBA)
• Partnership Agreement
• Articles of Incorporation
• Articles of Organization (LLC)
• Operating Agreement (LLC) if applicable
The minimum balance fee is charged if a balance of $2,500 or more is not maintained.
The excess transaction fee is charged for each transaction exceeding 500 during the month. Find additional fees applicable on the MSUFCU Business Fee Schedule.
If you are using a screen reader or other auxillary aid and are having problems using this website, please call 800-678-4968 for assistance. All products and services available on this website are available at all MSUFCU full-service locations.
MSU Federal Credit Union
savings are Federally insured to at least $250,000 by the
and backed by the full faith and credit of the United States Government.
APR = Annual Percentage Rate. APY = Annual Percentage Yield.
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