Tips on how to get your unclaimed money

November 17, 2008 12:00:00 AM PST
There are thousands of dollars out there in unclaimed money, and some of it may be yours. Find out how to claim the money you didn't know you had! Michael Finney talked with Arkadi Kuhlmann, chairman, president and CEO of ING DIRECT USA for his take.

Find out if you have unclaimed property at the California State Controller's Web site: scoweb.sco.ca.gov/UCP/

For more information, and for answers to frequently asked questions about unclaimed money/property, click here.

To search for unclaimed money or property in other states, visit www.unclaimed.org

California escheatment facts

-- The state of California is currently holding more than $5 billion in unclaimed property, and only spends $50,000 to contact owners.

-- $6 million in unclaimed property is generated annually for the state of California.

-- California spent nearly $50 million on bounty hunters to track down unclaimed property

-- Celebrities like Angelina Jolie and Willie Mayes have unclaimed property totaling over $12,000.00.

-- Budget problems forced California to lower their time frame from 16 to 3 years for an account to be "unclaimed."

-- In 1998 the state of California had collected $300 million in unclaimed property and only returned about half of that.

For more information, visit ingdirect.com

About Arkadi Kuhlmann - Chairman, President and CEO of ING DIRECT USA:
Affectionately referred to as "The CEO of Savings" by ING DIRECT associates, Arkadi is the Chairman, President and CEO of ING DIRECT USA, the retail bank that offers simple financial products direct to consumers over the telephone and internet. In a nation full of spenders, Kuhlmann is dedicated to inspiring all Americans to be a nation of savers. When ING DIRECT's online banking concept was introduced to the United States in 2000, analysts predicted it would be a failure. Seven years later, under Kuhlmann's leadership, ING DIRECT has grown to become the country's largest direct bank. In just 7 years, ING DIRECT has more than $80 billion in assets and led more than 6.5 million Customers back to saving.

Prior to ING, Arkadi's experience includes both high-level corporate and academic positions. He served as President of North American Trust and CEO of Deak International Incorporated and held various executive positions at the Royal Bank of Canada. His academic experience includes teaching at the American Graduate School of International Management ("Thunderbird") in Phoenix, Arizona where he was a professor of International Finance and Investment Banking.

Arkadi received an Honors B.A. in Business Administration along with an MBA from the Richard Ivey School of Business at the University of Western Ontario, Canada. He holds several Board positions including Chairman of the Board of ING Bank of Canada and he serves on the ING Americas US Advisory Board. Additionally, he serves as Chairman of the Advisory Board of the Richard Ivey School of Business. He is Chairman of the ING DIRECT Kids Foundation, a non-profit organization he helped to establish to improve the lives of children, with a particular focus on foster care children, around the globe. He is also an Honorary Chair for the "More Than Houses Campaign" for Habitat for Humanity, a charter member of the American Savings Education Council, and a member of NACD - National Association of Corporate Directors. He is also a member of the Thrift Institutions Advisory Council Board (TIAC), of the Federal Reserve, in Washington, D.C.

Arkadi has had a positive influence on the banking industry by breaking the traditional mold to lead Americans back to saving, and also has had a significant impact on Wilmington, Delaware, the location of ING DIRECT's U.S. headquarters. By choosing to renovate historic buildings at the Wilmington Riverfront, Arkadi has helped transform the area surrounding the Amtrak train station to create a booming commercial center that has prompted national companies to relocate there. Under Arkadi's leadership, ING DIRECT has expanded into four buildings in Wilmington and is one of the state's leading employers.

Instead of having stodgy bricks and mortar branches with line-ups, Arkadi chose to create architecturally award-winning cafés where Customers can experience ING DIRECT and also enjoy a cup of coffee. Located in Los Angeles, New York City, Philadelphia, Chicago, and Wilmington, Delaware, Arkadi established the Cafés to underscore the fact that opening an account with ING DIRECT is as easy as having a cup of coffee. In addition to whipping up lattes, Café Associates are able to provide information on the company's savings, mortgage, loan and mutual fund products. Café visitors can even purchase products to make their lives better and simpler, ranging from reading glasses and financial literature to lunch pails and mountain bikes. This is just one more way that Arkadi inspires consumers to view banking as simple, easy and even fun. · For more of Michael Finney's consumer stories and advice, visit 7 On Your Side.


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