State Treasurer presents $1.7 million to ECU

State Treasurer Richard Moore on Monday gave Vice Chancellor William Shelton and Provost William Swart good news to give ECU students.

Moore presented ECU with $1,664, 041, representative of the amount of money that students received last year in the form of grant money.

"This is one of the best parts of my job," Moore said. "Not only do I give people their unclaimed property back, I also get to give the interest earnings to needy and worth y North Carolina college students." .

As administrator of the State Unclaimed Property funds, Moore invests the holdings within the Unclaimed Property fund and then transfers the interest earning to the North Carolina State Education Assistance Authority (SEAA). SEAA divides the money among the state's public universities; colleges and community colleges in the form of student grant money. This money goes to help students who would have to incur loans in order to pay for college.

With $580 million in unclaimed property Treasurer Moore was able to send $36 million in interest earnings to the SEAA this year.

Through the Unclaimed Property Program, Moore works to recover unclaimed or forgotten property and to reunite these properties with the rightful owners.

The Unclaimed Property Program includes abandoned money — such as bank accounts, contents of safety deposit boxes and checks — that have not been closed or cashed. Those responsible for the money try to locate the owners, and if unsuccessful after three years turn over the property to the Department of the State Treasurer.

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