Need some extra spending money this holiday season? Unclaimed property can help

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HUNTSVILLE, Ala. (WHNT) - If the fast-approaching festivities of the holiday season have you and your wallet worried, a jolly man can help. Not the one from the North Pole, but one from Montgomery.

Alabama State Treasurer Young Boozer wants to help boost your bank account with money you may not know you had.

"That's the fun part of my job," he said.

His office oversees the state's unclaimed property division. It holds onto cash, stocks, bonds and more that typically come from financial institutions and businesses that lose contact with the valuables' owners.

"The people who hold those funds are required to submit those to us once a year," said Boozer.

The new funds are entered into the unclaimed property database every year after November 1. Boozer added that even municipalities can find some extra change in these unconventional couch cushions.

"Whether you're an individual or company or governmental entity, you should be checking on a regular basis," he said.

While the office will know immediately if it has your valuables, if you need a holiday bonus, be warned that it usually takes about four weeks to return it to you.

"Looking at my watch and seeing that it's the middle of November, you better hurry," said Boozer. "Call, operators are available."

To find out if you have unclaimed property with the state, click here.

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