State Treasurer John Perdue presented a $16,817 unclaimed property check to Salem International University President Danny Finuf, during a second-floor ceremony at the Randolph Campus Center. The president indicated he would use the funds for student scholarships.
“We’re always thrilled to reunite a quality, long-time educational entity such as Salem International with needed funds,” the Treasurer said. “I could not be more pleased that the president elected to allocate the money for funding scholarships. There is no better use.”
The funds are from inactive bank accounts in the university’s name and a few smaller accounts from 2004 to 2007. Often a change in administrative leadership, personnel or a post office address may result in funds classified as unclaimed.
Unclaimed property is any asset from which an individual or entity has become separated. Examples include dormant bank accounts, a forgotten utility deposit or life insurance proceeds unknown to the beneficiaries but eligible for redemption.
Wednesday’s presentation happened at the beginning of the quarterly meeting of the Harrison County Development Corporation. The Treasurer spoke briefly on the state’s unclaimed property program and his efforts to return unclaimed funds.
To search the Treasurer’s Office unclaimed property database go to www.wvtreasury.com. For individual assistance call 1-800-642-8687.
Treasurer Perdue has returned approximately $170 million to state residents during his six terms in office. He is the longest-serving Treasurer in state history.