JACKSON —  State Treasurer David McRae Friday returned more than $19,000 in unclaimed property to Alcorn State University.

“Alcorn State University has provided a remarkable educational experience to Mississippians for nearly 150 years,” McRae said. “I was proud to return this $20,000 to its rightful owners today and am grateful it will be put to work to further enhance the college experience for their students.”

Unclaimed property is turned over to the state when banks, credit unions and even retail stores are unable to find the rightful owner. After five years, financial institutions turn that money over to the state and the Treasury’s Unclaimed Property Division is charged with finding the owner and returning the money.

“We are grateful to the State Treasurer for presenting our university with these funds,” Alcorn State President Dr. Felicia M. Nave said. “Alcorn strives to find ways to acquire finances to enhance our beloved university and sustain a quality college experience for our students. Receiving this check from the State Treasurer will allow us to continue to improve various aspects of the university that help us bring our hope for the future of Alcorn to live.”