News Release
Prime Partner financial institutions, which
currently pay one percent on IOLTA accounts, have a
direct impact on the amount of money available to
help low-income Texans with their civil legal
issues.
Nearly 5.7 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.
“By
making the choice to pay higher interest rates on
IOLTA accounts, First State Bank of Mineral Wells
and our other Prime Partners help ensure that
low-income Texans will have access to basic civil
legal services,” Betty Balli Torres, executive
director of the Texas Access to Justice Foundation,
said. “During these economic times, many Texans are
facing serious challenges, such as foreclosures or
domestic violence situations, and simply do not have
the funds to hire an attorney.”
“At
First State Bank of Mineral Wells, we are committed
to serving and helping our local community,” said
Riley Peveto President & CEO. “We are proud to
become a Prime Partner and hope that the additional
funds generated will make a significant difference
in the lives of low-income Texans in need of civil
legal services.”
The Texas Access to
Justice Foundation has seen a 73 percent decline in
IOLTA revenue since 2007 due to the impact of low
interest rates. Prime Partners, such as First State
Bank of Mineral Wells, help to mitigate the decline
in revenue available to fund legal aid. -30- The Texas Access to Justice Foundation (www.teajf.org), created by the Supreme Court of Texas in 1984, is the primary 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 Texans each year.
Contact: Kimberly Schmitt
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