The State of Texas requires by law that financial institutions track dormant accounts. These are accounts that have had no activity or contact with the account holder for a statutorily defined period of time (three years). Generally, this means that Space City Credit Union must consider your account as dormant if:

• You have not performed a transaction on your account in the last three (3) years, or,
• We have not had any contact to verify your account information is current within three (3) years.

If Space City Credit Union has no recorded transactions or contact with a member for three (3) years, Texas law requires that we close the account and send the funds to the Unclaimed Property Division of the Texas State Comptroller’s Office.

An account goes dormant when there is a presumption of abandonment. In other words, the account property is presumed abandoned if for longer than (3) three years:

• The existence and location of the owner of the property are unknown to the holder of the property
• According to the knowledge and records of the holder of the property, a claim to the property has not been asserted or an act of ownership of the property has not been exercised.

To prevent your account from being flagged as dormant, simply initiate any transaction on your account at least once every (3) three years. This can be done by setting up direct deposit, using your Space City Credit Union debit or credit card, getting a loan with us, and keeping your contact information updated. You should also maintain an active list of all your financial accounts.

If your account has been flagged as dormant but not yet closed and submitted to the State, please contact Space City Credit Union at 713.222.1244 to remove the dormancy flag.

If you believe you have any unclaimed property, either from Space City Credit Union or any other financial institution, please visit Claim It Texas. Here, you may perform a search query to determine if you have any unclaimed property in your name by allowing you to search by last name, nickname, maiden name or even by business name. If your Space City Credit Union funds were escheated, please follow the steps on Claim It Texas to request funds.