Welcome to the Inaugural
COLTAF Newsletter!
Did You Know? 84% of new COLTAF accounts are opened at Prime Partner or Benchmark Bank institutions!
Joining COLTAF’s Prime Partner program can help your bank earn CRA credit, plus your bank will be featured on our “Where to Bank” list, a valuable resource for attorneys choosing where to deposit their COLTAF funds. Contact Mike Lee to learn more or to enroll as a Prime Partner.
Reminder: All COLTAF Checks Must Include Law Firm’s Name and Phone Number
When issuing checks for a COLTAF account, please be sure to inform account holders that they must include the law firm name and phone number on all their COLTAF trust account checks.
COLTAF recommends using the following format for the names of trust accounts: “COLTAF Account of Smith Law Firm, (719) 555-5555”.
Using this naming convention helps to avoid confusion, especially when a bank needs to verify a check from a COLTAF trust account. COLTAF cannot verify checks—only the firm or professional who wrote the check can verify it. Without the firm’s name and number on the check, it’s impossible to verify.
Remember: to verify a check written from a COLTAF account, always look for additional information on the check that lists the name of a law firm, lawyer, or Licensed Legal Paraprofessional. If the check does not contain this information, ask the person presenting the check which law firm issued it.
Coming Soon: Updated Remittance Procedures Handbook and Materials
Be on the look out in January 2026 for our newly updated remittance procedures handbook and other revised materials.
In the meantime, explore our new website! It’s a great resource for forms, FAQs, and everything else COLTAF. Keep an eye on this news section for impactful updates on the incredible work that COLTAF grantees are doing across Colorado!
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