State Treasurer for Louisiana, John Michael Schroder Sr., wants to remind citizens about the millions of unclaimed property in the state.
“This unclaimed property thing is something I’ve put a lot of time and effort into because it’s a lot of money that the state is collecting, and we need to do a better job of returning that to the citizens of Louisiana.”
Treasurer Schroder said in the Acadiana region, there’s about $35 million of unclaimed property that belongs to residents.
In Lafayette, there’s over $24 million in unclaimed cash of residents.
“We get about $80 million a year. We return about $30 (million). The rest of it, there’s a portion that goes to pay for the I-49 interstate system, and then the rest goes into the general fund and the state spends it,” added Treasurer Schroder.
Unclaimed property comes from payroll checks, bank accounts, royalties, deposits, interest payments, stocks and life insurance proceeds.
“It’s all very safe. You can go online and the average check is less than $900. There are some big ones, but the average check is $900 or less,” explained Treasurer Schroder.
To see if you have unclaimed property, click here and click on the Unclaimed Property tab at the top. That will bring up the Unclaimed Property page where you can type in your information.
Treasurer Schroder said, “We’re actually going to have some legislation this year that protects the money, puts it into a trust fund, and creates a dividend that we can use for infrastructure or a revolving loan program for local municipalities.”
Since 1972, the state has returned over $489 million to over 800,000 people.
The largest claim ever for a state resident was $2.3 million last year.