Lehigh Valley, PA & Phillipsburg, NJ (April 11, 2023) – First Commonwealth Federal Credit Union, one of the largest credit unions in the Lehigh Valley and a nationally recognized leader for financial strength, member service, and corporate social responsibility, has greatly enhanced its cash management and treasury services capabilities by launching an Interest on Lawyers Trust Account (IOLTA) program for its members throughout Pennsylvania and New Jersey.
First Commonwealth is now designated as a Platinum Leader Bank by the Pennsylvania IOLTA Board and a Leadership Bank by the IOTLA Fund of the Bar of New Jersey. “We’re on a mission to do good for our nearly 78,000 members and the communities we serve. We’re always looking for ways we can help to fill gaps where needs aren’t being met and how we can better serve underserved communities. The creation of our IOLTA program is just that. As one of 20 designated providers in Pennsylvania and one of only six in New Jersey (and the only credit union), we’re making this program more accessible for attorneys and businesses while giving back to those in need of essential legal services, “ said James Gagliano, Chief Experience Officer for First Commonwealth.
The IOLTA program was established as a means to raise money to fund civil legal services for people living on a low income. It is a type of attorney trust account that can collect interest, which is then transferred to the state bar for charitable purposes. Examples of legal services it helps to provide often include landlord/tenant disputes, custody disputes, as well as advocacy for people with disabilities.
ABOUT FIRST COMMONWEALTH FEDERAL CREDIT UNION
First Commonwealth Federal Credit Union (FCFCU) is a $1+B member-owned, not-for-profit financial services cooperative serving nearly 78,000 members and 1,800 businesses in the Greater Lehigh Valley and New Jersey since 1959. A nationally recognized leader in consumer and business banking innovation and service, FCFCU is committed to ‘Banking for Better’ and investing heavily in the Lehigh Valley community. With a mission of “empowering the pursuit of financial happiness” , FCFCU is focused on bringing affordable, easy to use financial services to everyone in the Lehigh Valley community.
First Commonwealth Federal Credit Union’s members enjoy access to 12 financial centers in Pennsylvania and New Jersey, 24/7 account access, a best-in-class digital banking center, and a dedicated business solutions center.
email@example.com | 610.657.9185(cell)