Amount returned is up 8 percent on same period in fiscal year 2010
JEFFERSON CITY, MO – January 10, 2011 – (RealEstateRama) — State Treasurer Clint Zweifel (ZWY-ful) today announced he is on a record setting pace for Unclaimed Property returns in fiscal year 2011. In the first six months, $18 million in Unclaimed Property was returned – an 8 percent increase over the same period the previous year. More than 60,000 accounts have been returned as well, a 32 percent increase year over year.
“This record breaking pace is a result of innovations I have put into place in the past two years, and we will continue to seek more ways to increase efficiency in returning money to citizens,” Treasurer Zweifel said. “Specifically, 100 percent paperless processing and e-mail notifications are helping us get money out the door faster. Our ability to return more Unclaimed Property to more people gets money back into the economy where we need it.”
In two years, Treasurer Zweifel has returned $64 million to nearly 190,000 account holders and cut wait times for Unclaimed Property in half. More than 25,000 paperless claims have been filed, and more than 7,000 people have signed-up for e-mail notifications.
Treasurer Zweifel also set records in fiscal year 2010 when he returned $35 million, breaking the previous record of $34.5 million set in fiscal year 2008. The record 92,000 accounts returned in fiscal year 2010 bested the previous record of 75,000 set in fiscal year 2009 by Treasurer Zweifel.
During the same time Treasurer Zweifel has returned several accounts worth more than $100,000, including $1.6 million to a St. Louis area man.
Following is an overview of the total dollar amounts and total accounts in Unclaimed Property remaining in each region of Missouri:
Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $86 million in more than 667,000 accounts.
Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade, Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $20.7 million in nearly 224,000 accounts.
Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $6.4 million in more than 61,000 accounts.
Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $8.4 million in over 77,000 accounts.
Southeast Missouri Region (Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve, Stoddard, Wayne): $12.5 million in more than 142,000 accounts.
Southwest Missouri Region (Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Hickory, Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, St. Clair, Stone, Taney, Texas, Vernon, Webster, Wright): $30.7 million in more than 326,000 accounts.
St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren, Washington): $183.7 million in more than 1.1 million accounts.
For more information about Unclaimed Property, go to www.ShowMeMoney.com.
About Treasurer Zweifel’s Unclaimed Property
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel’s office does not handle real property such as land, houses, cars and boats. There is $600 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.