Treasury Returns Record $420,000 in Unclaimed Property to New Orleans Area Residents at Mall Event
Treasurer Kennedy Will Continue Aggressive Efforts to Return $578 Million to Louisiana Residents
BATON ROUGE, La. -The Louisiana Department of the Treasury returned a record $420,000 in unclaimed money to hundreds of New Orleans area residents at an Unclaimed Property Awareness Day this weekend, according to State Treasurer John Kennedy.
"This was by far the largest amount of money that we have ever returned at one event in the history of the Unclaimed Property program," said Treasurer Kennedy. "We estimate there were over 10,000 people attending the event."
In an effort to increase awareness about the Unclaimed Property Program and help citizens claim their money, the Treasury visits shopping malls around the state, where Treasury employees directly check to see if residents have missing money. The average Unclaimed Property claim is usually around $200 to $400, but there were several large claims this weekend including one for $85,000 and another for $98,000.
"I had money that I was saving for retirement," said one New Orleans claimant. "I won't say what company, but it got lost in their bureaucracy, and they sent it to the state. I came here, and they're going to give me my money back."
The Treasury's Unclaimed Property database includes over 1 million people and businesses statewide that are owed $578 million. This money can be from old savings and checking accounts, payroll checks, stocks, insurance proceeds, oil and gas royalty payments, utility deposits and other funds. Under state law, when a business cannot locate an individual the Unclaimed Property belongs to, usually because of a wrong address, the money is turned over to the state.
Since 1972, the Unclaimed Property program has returned nearly $288 million to over 350,000 Louisiana citizens. To search to see if you have Unclaimed Property, visit www.LATreasury.com or call 1-888-925-4127 Monday through Friday 8:00 a.m. to 4:30 p.m.