Louisiana Treasury Mailed $16.9M in Unclaimed Property Checks
BATON ROUGE (press release) – State Treasurer John M. Schroder announced that more than 76,000 people will receive unclaimed property checks totaling $16.9 million after the Louisiana Department of Treasury used data matches to update addresses.
“Technology is helping us find more and more people to return unclaimed property. We can’t return every single dollar that way, but we can return $16.9 million. These are real checks. All you have to do is check your mailbox,” said Schroder. “Unclaimed Property is your money. Claim it!”
Checks went out this week and will be mailed to every parish in the state.
Each year businesses turn over millions of dollars in unclaimed cash, stocks, bonds, securities and insurance proceeds to the State Treasurer’s Office. Known as “unclaimed property,” these funds include payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates and life insurance proceeds.
One in six individuals in Louisiana has unclaimed property, with claims averaging $900. One of the main reasons an item becomes unclaimed property is because of an incorrect or old address.