The State Bar of Nevada has honored Bank of Nevada with the prestigious 2019 Medal of Justice Award in recognition of its consistent support of the legal community and legal aid organizations which ensure all citizens have access to justice.
The award was presented during the State Bar of Nevada’s 2019 Annual Meeting on June 27 in Vail, Colorado.
The Medal of Justice Award recognizes organizations that have consistently, and over many years, demonstrated leadership in their support of legal aid organizations and the legal community.
Bank of Nevada was selected as the Medal of Justice recipient in part because of its sponsorship allowing for free continuing legal education (CLE), its willingness to host fundraisers for legal aid organizations, and its assistance to county bar associations, the State Bar of Nevada and Nevada Bar Foundation.
According to the Nevada Bar Foundation, Bank of Nevada is the single largest contributor to legal aid services in Nevada through Interest on Lawyer Trust Accounts (IOTLA) funds. In 2018, Bank of Nevada voluntarily agreed to increase the interest rate paid on Nevada IOLTA accounts which will result in an annual increase of half a million dollars to the Nevada Bar Foundation. The Nevada Bar Foundation distributes funds to organizations that provide no-cost or low-cost legal services to those in need.
As a result of Bank of Nevada’s strong leadership, several other financial institutions have raised IOLTA rates which further increases funds for legal assistance to those Nevadans struggling to make ends meet.
“Bank of Nevada is a highly valued legal industry partner. They have shown true legal industry leadership by offering free legal education, hosting fundraisers supporting legal aid for Nevada’s most vulnerable, supporting county bar associations, as well as the State Bar of Nevada and Nevada Bar Foundation in our efforts to advance the legal community and protect the public,” said Richard Pocker, 2018-2019 president, State Bar of Nevada. “This institution stands out, and is most worthy of this prestigious honor,” he said.
Previous recipients of the Medal of Justice Award include the founders of the Lawyers Concerned For Lawyers Program providing confidential assistance to lawyers in need, as well as the creators of the so-called drug court, a specialty court focused on breaking the addiction cycle for improved societal outcomes.
Bank of Nevada and First Independent Bank are divisions of Western Alliance Bank. Both bank divisions’ contributions are reported as one financial institution on the State of Nevada IOLTA accounts report as of March 2019.