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.
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
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.
You can contact the Texas Comptrollers of Public Accounts Unclaimed Property Division by calling 1-800-321-2274 or visit their website at: https://mycpa.cpa.state.tx.us/up
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.
Not necessarily. It would depend on which account has had no live activity in three years.
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.