(Raleigh, N.C.) – The Unclaimed Property Division (UPD) of the Department of State Treasurer (DST) announced this week that it had exceeded 100,000 claims paid amounting to more than $60 million so far this fiscal year. UPD is part of DST led by State Treasurer Dale R. Folwell, CPA. The milestone, achieved in early May, exceeded the division’s highest claims paid within any fiscal year in the program’s history.
“I’m proud of the work being done by NCCash,” said Treasurer Folwell. “This is truly a great achievement for the organization, and it was done during a difficult time dealing with the challenges surrounding the pandemic. Many of the employees at UPD had to come into the office to process these claims. They did so without complaint.”
The record number includes claims paid by UPD’s highly successful NCCash Match program which has paid out 26,381 claims totaling more than $1.8 million. First started as a trial in October 2020, the program proactively researched records and identified qualifying claims of $250 or less. Notification letters were mailed to claimants, and a check was issued in six to eight weeks
Due to the success of the program, the General Assembly and Gov. Roy Cooper made the program permanent in March 2021 and then passed additional legislation in April that allows UPD to work with the rightful owners to claim up to $5,000 without any red tape. North Carolina is one of the few states in the country that offers this service.
“We’re in the check delivery business, so the more money we can get into the hands of North Carolinians the better” said Treasurer Folwell. “In fact, we expect to substantially exceed the success of this program next year.”
UPD receives and safeguards funds that are escheated, or turned over, to DST according to state law. The unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, and bonds that are uncollected or undeliverable, and contents of safe deposit boxes that have been abandoned.
“There are millions of items in DST’s custody that don’t qualify for NCCash Match,” Treasurer Folwell said. “So I encourage you to go to the NCCash.com website and do a search for your name, your spouse’s maiden name, your friends’ and relatives’ names, business, church and non-profit to see if there is a windfall waiting to be collected.”
For more information, including how to find out if you are owed money, can be found at https://www.nccash.com.