Treasurer Clint Zweifel announces record $35 million in Unclaimed Property returned
JEFFERSON CITY, MO – July 7, 2010 – (RealEstateRama) — State Treasurer Clint Zweifel (ZWY-ful) today announced his administration returned a record $35 million in Unclaimed Property to a record 92,000 account holders during fiscal year 2010.
“We have put $35 million back into the pockets of Missourians at a critical time,” Treasurer Zweifel said. “We do this free of charge and faster than ever before because we know that an average return of $365 can help pay for home repairs, groceries, school supplies or filling up the tank.”
The record $35 million bests the previous record of $34.5 million set in FY 2008. The record 92,000 accounts returned trumps the previous record of 75,000 set in FY 2009 by Treasurer Zweifel. During FY 2010, the largest single return ever, $1.6 million, was made to a St. Louis area man.
Since taking office in January 2009, Treasurer Zweifel has returned $46 million to 120,000 account holders. In June, Treasurer Zweifel launched a paperless claims process making Missouri the fifth state in the nation to offer this service. Since the system launched, wait times have decreased to an average of 15 days from 43 in December 2008. Missourians can visit www.ShowMeMoney.com 24 hours a day to search for Unclaimed Property that belongs to them, and most can file using the paperless system.
Treasurer Zweifel’s office holds more than $600 million from bank accounts, stocks, bonds, insurance policy proceeds, government refunds, utility deposits, wages from past jobs and contents of safe deposit boxes that have been turned over after five years of inactivity. This includes more than 100 unclaimed military medals protected by the recently signed Veterans Medals Bill, part of HB 1524.
“My focus on Unclaimed Property is a focus on making my administration even more accountable to taxpayers,” Treasurer Zweifel said. “This money is not the governments, and we are returning it faster than ever before. I look forward to breaking more records in fiscal year 2011.”
Following is a breakdown by region of the more than $600 million in Unclaimed Property:
Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $87 million in over 665,000 accounts.
Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade, Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $21 million in over 223,000 accounts.
Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $6.8 million in 60,000 accounts.
Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $8 million in over 70,000 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): $12.4 million in over 140,000 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 million in over 320,000 accounts
St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren, Washington): $186 million in over 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.
Contact:
Jon Galloway
(573) 751-7595 – Office
(573) 418-2923 – Cell
