The state of West Virginia has been making significant strides in returning unclaimed property to its rightful owners. In recent months, the Unclaimed Property Division has successfully returned substantial amounts of money to individuals and entities who were previously unaware that they had funds held by the state. Under the leadership of State Treasurer Larry Pack, this initiative has seen remarkable progress.
In February alone, over $5 million was returned to various recipients, marking one of the highest monthly returns in the program’s history. Treasurer Pack expressed his enthusiasm about the rapid pace at which these funds are being returned. He emphasized the importance of public awareness and encouraged residents to regularly check the unclaimed property database. Despite these efforts, a challenge remains: many recipients are not cashing the checks they have received. At the start of the month, only two-thirds of the 2,357 checks mailed in September 2024 had been deposited, leaving nearly $1 million at risk of going uncashed before the expiration date.
To address this issue, Treasurer Pack is urging the public to promptly deposit any unclaimed property checks they have received. Additionally, he encourages everyone to utilize the automated system available through the West Virginia Cash Now program at WVUnclaimedProperty.gov. With nearly $470 million still waiting to be claimed, it is crucial for residents to act swiftly. This initiative not only benefits individuals but also reinforces the state’s commitment to transparency and accountability in managing public funds. By ensuring that unclaimed property is returned efficiently, West Virginia sets an example of responsible governance and fiscal responsibility.