According to North Carolina’s State Treasurer Janet Cowell, nearly one million people in North Carolina have money waiting for them in the North Carolina Unclaimed Property Fund.
“One in eight North Carolinians has a claim,” said Cowell, with the average claim being nearly $1,400.
The fund is comprised of stocks, bonds, insurance policies, and wages that have gone unclaimed.
“Sometimes people who move a lot… their zip code gets switched… you forget you had that lock box, things happen. After a period of years the banks… turnover this money to the state to be administrated by our office,” said Cowell.
Cowell says after the money is turned over, it’s then deposited into an account and where it accrues interest.
“The good news is when people don`t find it, it`s going for a good cause,” said Cowell.
Last year, the interest came to $10 million dollars which was then used to fund scholarships for students at state universities as the money waited to be claimed.
Any North Carolinian who would like to find out if they have any unclaimed cash can visit www.NCCash.com. After completing a form, the state will then notify the person if there is any unclaimed cash in their name. You can also call (919) 508-1000.