In just over eight months, the Department of Finance’s Office of Unclaimed Property has reunited more individuals with their unclaimed property during Fiscal Year 2014 than it did in all of Fiscal Year 2013.
As of March 6, 2014, the Office of Unclaimed Property has reviewed and fulfilled more than 9,700 claims for unclaimed cash and securities having a total value of $83.0 million. This compares to Fiscal 2013’s full-year total of 3,047 claims valued at $19.2 million.
Such growth is due to the State’s improved customer focus and its concentrated effort to increase owner outreach. In addition to posting owner names online and in newspapers – as it does every year – the State mailed over 150,000 letters during the spring of 2013 informing individuals of their unclaimed assets in Delaware.
The State also has the business community and the companies holding property and stock to thank for their continued assistance in finding, contacting, and reuniting individuals to unclaimed funds.
“We are thrilled by the increase,” commented State Escheator, David Gregor. “Whenever possible, the idea is to reunite individuals with their property. We view companies and their agents as our partners in this endeavor. Because these holders understand Delaware’s commitment to compliance, they take their outreach efforts seriously.”