One in six individuals in Louisiana has unclaimed property, with claims averaging $900, the department said.
BATON ROUGE, La. (LDOT)- State Treasurer John M. Schroder announced Thursday that the Louisiana Department of Treasury shattered previous records by returning $62.7 million in Unclaimed Property money during the fiscal year that ended June 30.
In the previous fiscal year, the treasury department said it returned $51.8 million.
“We continue to find new ways to reunite people with Unclaimed Property money. I’m especially pleased that we set a new record during a pandemic, when people and businesses really needed this money. We reunited one New Orleans family with more than $2 million,” said Schroder in a statement Thursday. “The rate at which we’re returning money makes it clear Unclaimed Property needs to be protected for future claimants. On Nov. 3, you’ll be asked to vote on creating a constitutional trust fund for unclaimed property.”
Each year millions of dollars in unclaimed cash, stocks, bonds, securities, and insurance proceeds are turned over 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.To find out if you have Unclaimed property, search at www.latreasury.com