Bank of Nevada Receives Award of Excellence for Its Commitment to Legal Aid Services
Bank of Nevada has been recognized for its extraordinary efforts to support legal aid and pro bono services for Nevadans who might not otherwise be able to afford them.
During the 18th Annual Pro Bono Awards Luncheon, the Legal Aid Center of Southern Nevada honored Bank of Nevada with the William S. Boyd Award of Excellence for its outstanding support of legal aid and pro bono services. Bank of Nevada’s commitment to increasing the impact of interest paid on Lawyer Trust Accounts - known as IOLTA funds - was among the reasons for this recognition.
Bank of Nevada is the state’s only financial institution to increase the amount of interest paid on IOLTA funds. The funds generated by the accrued interest on IOLTA funds are used to support a wide variety of legal aid organizations throughout Nevada, which provide services to the poor, senior citizens, victims of domestic violence, and children protected by or in need of protection by the juvenile court. Bank of Nevada’s interest rate increase on these funds could result in more than $500,000 in additional funding annually for legal aid nonprofit organizations.
“We’re incredibly honored to receive the William S. Boyd Award of Excellence and to join the many other organizations that have been recognized with this award over the years for their support of legal aid services,” said John Guedry, CEO, Bank of Nevada. “By voluntarily increasing the rate of interest on IOLTA funds, Bank of Nevada is helping to strengthen legal aid organizations, ensuring they will continue to provide these important services,” said Guedry.
In addition to increased financial support, the award of excellence also recognizes Bank of Nevada’s dedication throughout the year to the mission and activities of the Legal Aid Center of Southern Nevada.
Bank of Nevada, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 1994, Bank of Nevada offers a full spectrum of loan, deposit and treasury management capabilities, plus superior service. With 10 offices in Las Vegas, Henderson, North Las Vegas and Mesquite, along with Western Alliance Bank’s powerful array of specialized financial services, the banking division is a valued resource for Southern Nevada’s business, real estate, professional, municipal and nonprofit communities. In a first among Nevada financial institutions, Bank of Nevada in 2018 earned the Community Commitment Award for Financial Education from the American Bankers Association Foundation for its work with Title I schools through the Green Our Planet organization. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance is ranked #1 regional bank by S&P Global Market Intelligence for 2018 and in the top 10 on the Forbes “Best Banks in America” list for four consecutive years, 2016-2019.