Treasurer McCord: Organizations Hurt by State Budget or Recession Should Search for Unclaimed Property

Treasurer McCord: Organizations Hurt by State Budget or Recession Should
Search for Unclaimed Property

Treasury's database contains names of individuals and organizations with
unclaimed property

HARRISBURG, Pa., Oct. 8 /PRNewswire-USNewswire/ -- "Social service agencies,
schools, and local governments across the Commonwealth that are strapped for
cash can put their money back in their wallets through Pennsylvania's
Unclaimed Property Program," Treasurer Rob McCord reminded leaders today.

"We are currently seeking the owners of over $1.6 billion in unclaimed
property -- property that belongs not only to individuals but also to
organizations across the Commonwealth, and many of these organizations have
been strapped for cash without a state budget in place," Treasurer McCord
said. "I encourage schools, day care centers, local governments -- any
organization that has been hindered by recession or receives state funding --
to search the unclaimed property database at www.patreasury.org and claim
their funds free of charge."

Though members of the Unclaimed Property Return Team have been proactive in
contacting many of these agencies -- including school districts, child care
centers and fire departments -- Treasurer McCord noted that there is still a
great deal of property to be claimed. For example, in the unclaimed property
database, there are at least 728 properties due to child care centers, 446
properties due to school districts, and 1,600 due to fire departments from
across the Commonwealth. He encouraged governments, agencies, and
organizations to call the toll-free Return Team hotline at 1-800-222-2046 in
addition to searching the database in case the property is listed under an
incomplete or misspelled name.

Each year, Treasury receives millions of dollars in unclaimed property from
abandoned bank accounts, forgotten stocks, checks that have not been cashed,
life insurance policies, safe deposit boxes and other sources. Treasury
maintains custody of this unclaimed property, and works hard to return it free
of charge to its rightful owners.

In 2008, Treasury reunited nearly 58,000 owners with their unclaimed property,
returning over $86 million. Treasurer McCord and his staff remain hard at work
to locate the owners of over $1.6 billion in unclaimed property. Visit
www.patreasury.org to search the free unclaimed property database or call
1-800-222-2046, Monday through Friday, 7:30 a.m. to 4:30 p.m.

Pennsylvania Treasurer Rob McCord is committed to managing the Commonwealth's
assets for the benefit of all Pennsylvanians. A respected business leader,
McCord is focused on strengthening the state's economy, enhancing the
financial security of Pennsylvanians, and increasing the efficiency and
transparency of the Treasury. To learn more about Treasurer McCord's
initiatives and programs, please visit the Pennsylvania Treasury Department at
www.patreasury.org.

SOURCE Pennsylvania Treasury Department

Elizabeth Kupchinsky of PA Treasury Department, +1-717-787-2991,
news@patreasury.org