LOCAL

Schroder announces first-ever Louisiana-Texas unclaimed property collaboration

Staff Report

State Treasurer John M. Schroder has announced that two states will partner for the first time ever for an Unclaimed Property event. Louisiana and Texas will join forces for this historic two-day event on Nov. 16 -17 to return property and money to its rightful owners on both sides of the state border.

The Nov. 16 event will take place at the Southwest Louisiana Entrepreneurial and Economic Development Center (SEED) on the campus of McNeese State University in Lake Charles from 10 a.m. to 5 p.m. On Nov. 17, the event will move to the Beaumont Public Library in Beaumont, TX, from 10 a.m. to 5 p.m. Unclaimed Property staff from both states will work together to assist the public on both days. There is no cost to attend.

In this Aug. 7, 2019 file photo, Treasurer John Schroder speaks after qualifying for his re-election bid, joined by his wife Ellie in Baton Rouge, La.   Gov. John Bel Edwards is suing Louisiana's state treasurer for blocking a $25 million fund transfer the governor and lawmakers earmarked for state operating expenses.

“I am exceptionally proud of my team and the work they’ve put into planning the event along with the Texas Unclaimed Property team from the office of Texas Comptroller Glenn Hegar,” Schroder said. “With so many commuters who cross the state border daily and so many who have moved back and forth between the two states, it makes sense to collaborate on a special Unclaimed Property event.”

A preliminary data review found over 19,000 instances where the same Social Security number appears in both the Louisiana and Texas systems. Every year businesses turn over millions of dollars in unclaimed cash, stocks, bonds, securities, and insurance proceeds to their respective State Treasurer's or Comptroller’s Office. Known as "Unclaimed Property," these funds include payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates, and life insurance proceeds. 

“We’re anxious to see the results from sharing this event with a state that shares a border with us. If things go as planned, you’ll likely see more events that cross state lines in other directions,” Schroder added. “We have no doubt that partnering with our neighbor to the west, where everything is bigger, will result in bigger claims and more recipients than ever.”

To check to see if you have unclaimed property or to find out more about this free Louisiana-Texas event, go to LaCashClaim.org.