Oregon will soon distribute another $3.5 million to Oregonians who may not realize they should expect it. As part of an initiative to return unclaimed funds to people, Oregon State Treasury announced early this year that they were planning an ambitious initiative that would distribute $10 million worth of unclaimed funds back to people.
This is the second phase of the state department of Treasury’s effort to return unclaimed funds reported in 2019. Funds returned will reach approximately 9,000 individuals within the state.
State officials announced they will distribute $155,000 among 400 residents living near Salem as part of this group.
The third batch, including funds reported in 2020, will be delivered in June.
Checks usually range between $50 and $10,000 in size.
Unclaimed funds often include bank accounts that have been left idle, tax refunds, credit balances, payroll checks and uncashed checks that remain uncashed.
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Since July 2021, the Treasury reported returning over $65.5 million to 47,000 individuals through various programs run by it. Overall, more than $521 million had been returned since programs about it first started being run.
The state estimates it still holds roughly $1 billion in unclaimed funds.