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Chemung Co.: $5M in Unclaimed Funds

$5M Unclaimed Funds in Chemung Co.

ELMIRA (WENY)-- New York state has more than $12 billion to give away in unclaimed funds.

So the big question, could you be in for a big pay-out? After some digging, WENY-HD found that there's more than $5 million of unclaimed funds that belong to residents in Chemung county.

New York State Comptroller Thomas DiNapoli says the funds comes from inactive bank accounts, insurance companies, utilities and other businesses required by state law to surrender the money to the state.

Money that isn't claimed ends up in the state's general fund. DiNapoli says his office is trying to connect people with their money and he says your funds could be under your name, your relatives name or even the name of your business.

"It's real dollars in every part of our state and in Horseheads there are some 3,000 accounts valued at $1 million," said DiNapoli. "In Elmira there are 9,000 accounts valued at $4 million. Thisis real money that we need to return to Southern Tier New Yorkers."

Believe it not, there's an account worth over $1.7 million and and so far, no one's claimed it. DiNapoli also says there's no fee to claim the money.

Click here to see if some of the money is yours: https://ouf.osc.state.ny.us/ouf/