Don't assume that because your bank, savings and loan or credit union no longer exists that unclaimed funds are lost forever. Your account may have been transferred to a new bank or a government custodian after a merger or acquisition.

Even if your bank failed and closed its doors, you may still be entitled to collect insurance proceeds - up to $250,000 per account - from government regulators including FDIC and NCUA. Under the terms of the Financial Institutions Reform Recovery & Enforcement Act of 1989 (FIRREA), the government has taken custody of several hundred million dollars worth of insured accounts over the years, and currently holds over half a million unclaimed accounts.

Unclaimed money may be recovered after years of inactivity, even if a passbook is lost or destroyed, but you must act promptly to safeguard your rights, as some claims are subject to time limits.

To trace an unclaimed bank account, credit union share, or lost certificate of deposit, go to: Unclaimed Money Search.