Foundation gains new agreement with Royal Bank of Canada

As of April 1, 2002, under a new tiered-rate agreement with the Law Foundation, the Royal Bank of Canada will pay a net rate of return on lawyers' pooled trust accounts of prime less 3% on global average balances.

Law Foundation Chair, Don Silversides, QC, commends the Royal Bank for its commitment to paying a rate of return on lawyers' pooled trust accounts that ensures a spot on the Law Foundation's recommended list of financial institutions.

In particular, the Foundation thanks Diane Osatuik, Industry Manager, and Carolyn Davies, Senior Account Manager, Public Sector, Commercial Markets, Greater Vancouver for supporting the initiative for the new agreement.

Increased revenues enable the Law Foundation to fund programs that make the justice system more accessible to British Columbians, particularly those people who have the greatest access problems as a result of their economic, social, physical or mental special needs. The funded programs include both professional and public legal education, law reform, legal research, legal aid and law libraries.

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