Embracing the Oregon IOLTA Program for Community Good

from March 2023 Multnomah Lawyer

by mbabar

Around the Bar

by Dave Hansen Executive Vice President/Director of Retail Banking Columbia Bank

in its work going back to its creation in 1981. The combined IOLTA deposit balances of both banks means more support of the OLF.

reach their goals. We gather deposits from community members that we in turn lend out to benefit local communities. The IOLTA Program is another way that allows us to work in concert with the legal community to benefit local economies by supporting the broad range of community members. As stated in the research conducted by the OLF, “for every dollar spent on legal aid, Oregon receives $3.43 of financial benefit to individuals and to the community.” the communities that we serve. The interest paid on IOLTA accounts is recognized as direct support of CRA programs. Healthy, responsible and wellrun banks with good CRA records support a strong local economic environment.

We are proud to work directly with the OLF as a Leadership Bank to support the needs of the community. Let’s continue to work together as a legal and banking community to maximize the health and well-being of our Oregon community.

Barry Dod Dispute Resolution Service LLC

Columbia Bank and its forerunner banks have been long-time participants in the IOLTA Program in Oregon and other states where we do business. As we merge with Umpqua Bank in March 2023, we are excited to continue as a Leadership Bank benefitting the Oregon Law Foundation (OLF)

Participation in the IOLTA Program is a natural fit for our community-focused bank because it helps Oregonians that are in need of assistance with legal issues who cannot otherwise afford representation. Healthy community members contribute to the creation of healthy communities that leads to healthy local economies. It takes a collaborative effort with community partners to drive positive and forward-focused successful communities.

As a community bank, we provide banking products and services to communities that helps families and businesses

Traditional banking functions of gathering deposits that are invested in loans in our communities is combined with the IOLTA Program, producing a winning combination between banks and the legal community. In this, we are collectively doing the right thing for all members of society.

An additional benefit that banks gain in being actively involved in the IOLTA Program is recognition that banks realize in support of the Community Reinvestment Act (CRA). Banks are expected to be financially responsible and stable but also have the obligation to support

Arbitrator/Mediator