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Unclaimed Assets: Money The Government Owes You! |
| Lost Accounts at Failed Banks - FDIC & NCUA |
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Failed Bank and Credit Union Unclaimed Accounts, CDs and Safe Deposit Boxes |
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The Federal Deposit
Insurance Corporation (FDIC), created by the Banking Act of 1933,
administers insurance funds to protect depositors from losing money when
banks fail. The National Credit Union Administration (NCUA) supervises
and insures federal and state-chartered credit unions. There has been at least one bank failure every year since 1934. More than 1,400 banks and 700 savings institutions closed between 1982 and 1992 alone. Over 120 banks have already failed during the current economic crisis, including the largest ever - Washington Mutual, with $182 billion in deposits. And since 1990, more than $331 million has been paid out to well over 100,000 account holders at credit unions that have closed. Did you have an account at a closed bank or credit union? Don't assume that because your bank, savings and loan or credit union no longer exists that unclaimed funds are lost forever. Your account may have been transferred to a successor bank after a merger or acquisition, or you may be entitled to collect insurance proceeds - currently up to $250,000 per account - if your bank or credit union was closed by government regulators. Unclaimed accounts may be recovered after years of inactivity - even if a passbook is lost or destroyed - but act promptly as there is a time limit on some types of claims, and unclaimed safe deposit boxes may be drilled and their contents sold at auction. To search for an unclaimed, insured account at a failed bank or credit union complete the form below. |
| Unclaimed Bank Account Search |
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