The state treasury is holding property owed to African-American institutions and is encouraging them to claim it.
The Pennsylvania Treasury has collected more than $858 million in property since January 2009, including abandoned bank accounts, forgotten stocks, uncashed checks and contents of safe deposit boxes.
A small part of this money, $62,200, belongs to many African-American institutions that still exist today, according to State Treasurer Rob McCord, who wants to return the money to their rightful owners. His department is encouraging these organizations to search and claim their property.
Treasurer McCord asked his department to identify unclaimed property that belongs to historically African American institutions of higher education, fraternities and sororities, as well as organizations like the NAACP, African Chamber of Commerce, Union of Black Episcopalians, National Society of Black Engineers and the PA Black Conference on Higher Education.
McCord said the nearly $62,200 his department holds for these organizations represents just a fraction of the $1.9 billion in unclaimed property Treasury currently seeks to reunite with businesses, organizations, and citizens. The Treasurer encouraged everyone to search Treasury’s free unclaimed property database at www.patreasury.gov or call 1-800-222-2046, Monday through Friday, 7:30 a.m. to 4:30 p.m. A member of Treasury’s Return Team will assist them with their search and the claim process.
Read the full story here.
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