Connecticut Pays Record $120.9M in Unclaimed Property; Military Medals Missing

Connecticut just hit a financial milestone that’s flown under the radar but could affect thousands of people from Hartford to Stamford. The state returned a record-breaking $120.9 million in unclaimed property during the 2024–25 fiscal year.

This is the first time Connecticut has crossed the $100 million mark in a single year. Advances in technology and outreach are helping put forgotten money back in the hands of individuals, families, and businesses across the state.

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Record Year for Unclaimed Property Returns in Connecticut

The state’s unclaimed property program, run through the CTBigList.gov portal, has quietly become a financial safety net for residents in places like New Haven, Bridgeport, and Waterbury. In the 2024–25 fiscal year alone, $120.9 million made its way back to rightful owners thanks to more awareness and faster processing.

Since 1998, Connecticut has returned a total of $1.2 billion in unclaimed property. That’s a lot of individual stories—heirs hunting down old accounts, small businesses finding missing funds, and families stumbling onto assets they didn’t know existed.

Most Claims Are Modest, But Some Are Massive

The headline figure is big, but most individual returns are actually pretty modest. Most claims are under $2,500, usually coming from dormant bank accounts, small insurance payouts, or leftover balances from closed utility or vendor accounts.

For many households in cities like New Britain and Norwalk, even a couple hundred bucks can help pay bills or pad savings a bit. But some business claims reach as high as $1 million. Those usually involve old corporate funds or long-lost financial instruments.

Regardless of size, every claim comes down to proving ownership and showing a clear link to the money. That part never changes.

How CTBigList.gov and New Technology Make It Easier

Connecticut’s unclaimed property system has changed a lot in recent years. It now relies on modern tools to make things easier and cut down on paperwork for people from Danbury to Manchester.

The public portal, CTBigList.gov, lets anyone search for unclaimed property by name and start a claim online. Behind the scenes, new tech is really driving these record returns.

Two tools—FastTrack and CT Big Match—automate much of the process and speed up payments, especially for smaller claims. It’s a big leap forward, honestly.

FastTrack and CT Big Match: Automating Smaller Claims

FastTrack and CT Big Match are built to verify and return funds for smaller claims under $2,500 automatically. Once the system confirms ownership by matching personal info, it can issue refunds without a bunch of paperwork or long waits.

This automation really helps people who don’t have the time or patience to deal with a complicated process. By focusing on digital verification, the state can handle more claims, which directly led to that $120.9 million record.

What Counts as Unclaimed Property in Connecticut?

Unclaimed property in Connecticut isn’t just forgotten checking accounts. People in places like Milford, Middletown, and beyond might not realize how many different assets can wind up with the state.

Assets become “unclaimed” when a bank or company loses contact with the owner for a certain period. The range is surprisingly broad, though it never includes real estate.

It’s mostly financial or tangible personal property held by institutions and then turned over to the state. That’s the rule.

Common Types of Unclaimed Property

Here are some examples of unclaimed property:

Bank accounts and certificates of deposit

Uncashed checks, including payroll and vendor checks

Stocks, bonds, and mutual fund shares

Insurance proceeds and policy benefits

Utility deposits and refunds

Contents of safe deposit boxes

A lot of these assets come from accounts that belonged to people who’ve passed away and get claimed by heirs. Sometimes, tracking down paperwork can be tough, especially after decades.

Dormant Bank Accounts and No Statute of Limitations

In Connecticut, bank accounts typically become unclaimed after three years of dormancy. That means no deposits, withdrawals, or any activity for three years.

Banks have to try to notify the account holder at their last known address before transferring funds to the state. Unlike some financial matters, there’s no statute of limitations on unclaimed property in Connecticut.

You can claim funds years—or even generations—after they were turned over. But the older the claim, the harder it is to prove ownership, especially if records are missing or heirs don’t even know the property exists.

Safe Deposit Boxes and the Special Case of Veterans’ Medals

Safe deposit boxes bring another twist to the unclaimed property story. When a bank decides a safe deposit box is abandoned, its contents eventually go to the state.

These can include jewelry, documents, collectibles, and sometimes things with deep personal or historical meaning. Among the most sensitive are veterans’ medals.

Connecticut has made a point to protect these symbols of service, knowing their sentimental value is way beyond any cash amount.

Veterans’ Medals Are Protected, Not Liquidated

By policy, the state doesn’t liquidate veterans’ medals. While most safe deposit box contents may be sold if unclaimed, medals are handled differently.

The state sends them to the Connecticut Department of Veterans Affairs for safekeeping. Right now, the Department holds just four war medals, but even those are tough to return.

Families in places like Greenwich, West Hartford, and other towns may not know a relative’s medals ended up with the state. That lack of awareness makes reunification tricky, honestly.

How Residents Can Help Reunite Medals and Money with Owners

State officials keep urging residents and local institutions to check for unclaimed property. They especially want folks to look out for veterans’ medals that might show up in estates or tucked away in storage.

If you stumble across medals with no clear owner, the Department of Veterans Affairs in Connecticut wants to hear from you. Just send the medals their way—they’ll try to track down the rightful family.

With tools like CTBigList.gov, FastTrack, and CT Big Match, Connecticut’s unclaimed property program keeps growing. It’s honestly becoming a pretty solid way for people to find forgotten assets and family treasures.

Here is the source article for this story: CT pays out a record $120.9M in unclaimed property but struggles to return military medals

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