More than $3 million in unclaimed property in Iron Range towns

ST. PAUL, Minn – Dormant bank accounts, un-cashed checks, insurance claim payments or benefits – if unclaimed by you – all of this money ends up being safeguarded by the Minnesota Department of Commerce. The Department receives millions of dollars in unclaimed property each year from businesses and organizations that have lost contact with the owners. Sen. David Tomassoni (DFL-Chisholm) made a request this month to the Department to see exactly how much unclaimed property the Department was holding onto for his constituents.

According to the Department, the following six towns have residents that are owed money totaling more than $3 million.

City Amount owed (approximate)
Virginia $1,156,913.55
Eveleth $522,992.95
Chisholm $466,597.56
Hibbing $1,201,518.23
Nashwauk $131,785.80
Big Fork $59,631.78

“It’s pretty shocking to see how much money people are leaving behind – probably many of these people are completely unaware they’re even owed anything. I encourage everyone to visit the Department of Commerce’s website and use its simple search method to see if you have any unclaimed property. The Senate currently has a bill to give the Department $290,000 in additional funding to help them process these claims more quickly and publicize the fact that this money is out there – waiting for its owners to claim it,” said the Senator.

In order to search the Missing Money database to see if you have any unclaimed property, visit: http://www.missingmoney.com/

Senator David Tomassoni
David Tomassoni represents District 6, which includes portions of Itasca and St. Louis counties in the northeastern part of the state.

Read more news from Sen. Tomassoni.
Senator David Tomassoni on sabflickrSenator David Tomassoni on sabemail