Dormant "Inactive" Account

A dormant account is an account that has had no active activity for a specific period of time.  For the State of Texas, an account that has had no “live activity” (such as a deposit or withdrawal) for three years is considered dormant.  Dividends posting to the account is not considered live activity and will not protect your account from becoming dormant.

If you or family members have an account with JSC FCU that has not had any "live" activity for the last three (3) years. The State of Texas requires financial institutions to escheat (remit) the funds from dormant "inactive" accounts to the state. In order to keep an account from becoming dormant, JSC FCU recommends that you make a deposit or withdrawal at least once a year to the account. 

How to re-activate a dormant account:



What happens to my account if it becomes dormant?

We will make every effort possible to notify you.  If the account has been dormant for three years, and we have been unsuccessful in contacting you, the account is subject to be escheated to the State of Texas

How can I stop my accounts from becoming dormant?

The best way is to make a deposit or withdrawal from your account each year.  There is no minimum or maximum amount needed.  This activity will prove that the account remains active.

What can I do if my account became dormant and the funds were sent to the state?

You can contact the Texas Comptrollers of Public Accounts Unclaimed Property Division by calling 1-800-321-2274 or visit their website here.

Does the credit union notify you that your account has become dormant?

We will make every effort to contact you if your account becomes dormant.  Make sure to keep your address, phone number and email address updated on your accounts at all times.  Don’t forget minor or children accounts you may have opened as well.

If I have a personal account, and I am joint on my child’s account would both accounts become dormant

Not necessarily.  It would depend on which account has had no live activity in three years.

How can I reactivate my account once I find out it has become dormant?

Contact the credit union and ask them to reactivate your dormant account status, or simply make a deposit or withdrawal from your account.  There is no minimum or maximum amount to deposit or withdrawal.

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