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Oregon Treasury Holds $564 Million in Unclaimed Assets

International Business Times

When someone closes a bank account or leaves a job, sometimes they forget to withdraw remaining funds or pick-up their last paycheck. These funds, along with left-behind property, end up with the Oregon State Treasury. People can search a free online database to see if they have unclaimed assets.

Credit International Business Times

More than half-a-billion dollars. That’s the value of forgotten belongings and cash held by the state.

Ted Wheeler is the State Treasurer. He wants to return the $564 million in assets to its owners.

Wheeler: “Anytime that property comes into the possession of the state, it’s usually from an estate, somebody dies, or an organization has an outstanding payment, they’re required to turn it over to the state, and then the state has an obligation to try and connect that unclaimed property with its rightful owners.”

Wheeler says it can be almost anything—utility deposits, stocks, bonds, even coins and jewelry.

He says it’s free to reclaim assets, and people can search an online database on the State Treasury’s website to see if they have funds owed to them. Wheeler also cautions against so-called finders who charge a fee for this service.



Copyright 2016 KLCC

Kyra Buckley
Kyra Buckley has been a volunteer in KLCC’s newsroom since August 2015. She will graduate from the University of Oregon in December 2015 with a BA in Journalism and Political Science. At the UO she held leadership positions on student run publications like Envision, an online environmental magazine, and This Oregon Life, a storytelling podcast.