Funds to be used to support local businesses and entrepreneurs
State Treasurer Riley Moore presented an unclaimed property check worth more than $25,000 to representatives of the Berkeley County Development Authority (BCDA) on Tuesday, March 5.
“As one of the fastest growing counties in the state, it’s essential to foster a business climate that incentivizes entrepreneurs to start their businesses in Berkeley County and attracts existing companies to invest in the region,” Treasurer Moore said. “It was an honor to partner with the Berkeley County Development Authority to return a large sum of funds that will be put toward their initiatives of supporting hardworking business owners, and in turn, the local economy.”
Treasurer Moore presented an unclaimed property check worth $25,001.16 to BCDA Director Jennifer Smith, Board of Directors President Abe Ashton and Office Administrator Candance Dalton at the BCDA office in Martinsburg Tuesday morning. The majority of the funds were from dormant checking accounts that were turned over to the Office’s Unclaimed Property Division.
Pictured left to right: BCDA Director Jennifer Smith, State Treasurer Riley Moore, BCDA Board of Directors President Abe Ashton, BCDA Office Administrator Candance Dalton
“The BCDA could potentially use these funds for the Build-Up Berkeley Pitch Competition this year,” Smith said. “Build-Up Berkeley allows entrepreneurs from all walks of life the opportunity to receive education, network with business educators, have a dedicated mentor and the possibility to access much-needed capital for their business.”
The State Treasurer’s Office has more than $400 million worth of unclaimed property listings in its database. Currently, Berkeley County has nearly 175,000 unclaimed property listings worth over $21.7 million for individuals, businesses and organizations.
“I encourage people to go to the State Treasurer’s Office’s website and see if they have unclaimed funds,” Smith said. “Being reunited with unclaimed funds has many benefits – the funds held by the Treasurer's Office may otherwise go unutilized, and by returning them to their rightful owners, the state can ensure that the money is back in circulation, potentially stimulating the economy.”
For more information about the unclaimed property program or to find out if the Office is holding any money for you, visit www.WVUnclaimedProperty.gov.
What is Unclaimed Property?
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for one year or longer. Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. (While the title includes the word “property,” it does not however include real estate.)
West Virginia’s unclaimed property laws protect the public by ensuring money and property owed to them is returned to them, rather than remaining permanently with financial institutions, business associations, governments and other entities. The Treasurer seeks to reunite the unclaimed property, including uncashed paychecks, stocks, or safe deposit box contents, with its owner.
Nationwide, nearly 33 million people in the United States – one in every 10 – are estimated to have unclaimed property available for them to claim.
How Can I Find Unclaimed Property in My Name?
West Virginians searching for lost financial assets can go to www.WVUnclaimedProperty.gov. In addition to finding property, the website will also help you track a claim.
A demonstration of how to use the Unclaimed Property search site is available on the Treasury’s YouTube page, at: https://youtu.be/K09yQ7YNKlE.
To search for lost financial assets outside West Virginia, visit www.MissingMoney.com.