State Treasurers Office partners with LA Wallet on unclaimed property

The Louisiana State Treasurers Office is partnering with LA Wallet to streamline the process of reconnecting Louisiana citizens with their unclaimed property.

State Treasurer John M. Schroder announced this partnership Monday, Aug. 15. According to the Treasures Office, this collaboration streamlines the Louisiana Treasury Unclaimed Property for citizens through an easy-to-use Unclaimed Property search on LA Wallet.

“Nowadays, people can run their households and sometimes even their businesses from their cell phones," Schroder said. "An app-based solution for accessing unclaimed property makes perfect sense, It securely harnesses the power of technology in order to simplify the process for citizens, allowing them to reclaim their lost funds with ease.”

According to the Treasures Office, the unclaimed property search feature is seamlessly integrated into the LA Wallet app, making it easy for users to discover any unclaimed assets.

“We are thrilled to be part of this process," said Calvin Fabre, co-founder of LA Wallet. "Address discrepancies have historically been a major reason why unclaimed property remains uncollected. By incorporating the Unclaimed Property search feature in the LA Wallet app, we can assist in returning money to the rightful owners.”

Unclaimed property is defined by the Treasures Office as uncollected funds from payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates and life insurance proceeds. It is reported that one in six Louisianas have unclaimed property, with claims averaging $900.

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Makenzie Boucher is a reporter with the Shreveport Times. Contact her at mboucher@gannett.com.

This article originally appeared on Shreveport Times: Louisiana State Treasurers Office, LA Wallet partner on unclaimed property