BarTalk April 2002
Volume 14, Number 2

Vancouver City Savings Credit Union, recognizing the negative impact of low interest rates on the Law Foundation’s revenues and the need in the community for additional funding in the wake of government cuts, set a new Foundation benchmark rate of return to be paid on lawyers’ pooled trust accounts.

Effective March 1, 2002, interest paid on lawyers’ pooled trust accounts will be at a rate of prime less 2.5 per cent. Law Foundation Chair Don Silversides, QC thanks Wayne Richter, Cash Management Manager, Business Services, for ensuring that Vancouver City Savings Credit Union will again reclaim the leadership role in the rate of return paid to the Foundation.

Increased revenues enable the Law Foundation to fund programs designed to make the legal system accessible to British Columbians, particularly those people who may have the greatest problems of access to justice as a result of their economic, social, physical or mental special needs.

The Canadian Bar Association, BC Branch, the Law Society and the Law Foundation encourage lawyers to consider which financial institutions provide the best support to the Law Foundation when deciding where to place their trust accounts.

This article was published in the April 2002 issue of BarTalk and is subject to the copyright by the British Columbia Branch of the Canadian Bar Association, 2005, all rights reserved.