Treasurer McCord: Unclaimed Property Can Help Local Pools, Swim Clubs Stay ‘Afloat’
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Local swim clubs help members beat the summer heat, but many struggle with reduced community funding and high maintenance costs, a problem that the Pennsylvania Treasury is helping to remedy for
"Local pools and swim clubs are valuable community hubs of recreation and relaxation, helping to keep our kids safe, entertained and active during summer break," Treasurer McCord said. "Far too often, however, membership fees cannot keep pace with cuts to municipal recreation budgets and rising maintenance and insurance costs that push budgets into the red. That's why I want to highlight Treasury's unclaimed property program - even if it's not a large amount, every dollar helps to keep these important local institutions 'afloat' financially."
The treasurer asked his Return Team to identify unclaimed property that belongs to swim clubs like
The
Each year, Treasury receives millions of dollars in unclaimed property in the form of abandoned bank accounts, forgotten stocks, uncashed checks, and contents of safe deposit boxes. Treasurer McCord stressed that people and organizations usually do not know they are owed property because "holders," or entities that hold property owed to others, are not required under state law to contact the owner before remitting it to Treasury. Furthermore, property is often times reported with misspelled or incomplete owner information.
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