The Ohio Department of Commerce, Division of Unclaimed Funds announced today that during fiscal year 2014, a record $74,478,325 of unclaimed funds was returned to Ohioans. This was a 7.6% increase over the previous fiscal year payment of $69.2 million. The average claim was for $1,561.49.
Unclaimed funds are money or the rights to money that have been dormant or forgotten. Some common examples include: dormant checking and savings accounts, forgotten rent or utility deposits, uncashed checks, undelivered stock certificates and uncashed insurance policies.
In addition, in April of this year, the Division exceeded the $1 billion mark in terms of funds returned to the citizens of Ohio since the inception of the Division.
“The Department of Commerce, Division of Unclaimed Funds is committed to reuniting Ohioans with their hard-earned money and we are proud of the record amount that was returned this past year,” said Director Andre T. Porter. “This money can help Ohioans buy a tank of gas, pay off some bills, make a needed home repair or even expand a business which means jobs for Ohioans.”
Division Superintendent Yaw Obeng encourages Ohioans to visit http://www.com.ohio.gov/unfd/ to see if they have funds waiting to be claimed. Individuals without Internet access can write to the Division of Unclaimed Funds and provide the full name(s) to be researched, along with the counties in which the person(s) might have resided. The Division’s address is 77 South High Street, 20th Floor, Columbus, OH, 43215. Anyone with questions about unclaimed funds can call the Division toll free at 1-877-644-6823 (OHIO UCF).