Inactive Accounts & Escheat

The state of Texas, through escheat laws, mandates that financial institutions surrender inactive accounts over to the State Treasury. Inactive accounts are accounts that have had no activity as of March 1st for the last 3 years (dividends do not count as transactions).  The state requires that we close the account and send the funds to the Unclaimed Property Division of the Texas State Comptroller’s office in June. The credit union reviews dormant accounts annually. Accounts without any activity are assessed a $5 inactivity fee each year they are inactive. Before closing the accounts and submitting funds to the state, the credit union mails notices to the members. Please make sure if you receive a notice you contact us or make a transaction on your account. Once the funds are sent to the state, you will need to contact the state directly for the proceeds.

You can check online to see if you have unclaimed property with the Texas State Comptroller at or contact by phone at 1-800-321-2274.