A Common Bond. An Uncommon Commitment To Our Members.
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Routing Number: 221277007
Member Services: (888) 423-7265
Online/Mobile Banking Support: (833) 999-1094

Dormant Accounts

And Escheatment
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Avoiding Dormancy

At B-M S Federal Credit Union, it's important to us that your accounts remain active and secure. If your account is inactive for an extended period, it may be classified as dormant. Dormant accounts can eventually be subject to escheatment, a process where the funds are turned over to the state as unclaimed property. We want to help you avoid this scenario and keep your assets under your control. We encourage you to stay active with your account to ensure your funds remain safe and accessible.

  • Make regular deposits or withdrawals
  • Set up automatic payments or transfers
  • Contact us to check your account activity
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Three Easy Ways to Reactivate Your Account

Call Us (888) 423-7265
Visit Main Branch One Squibb Drive
New Brunswick, NJ 08903
Mail Complete this form and mail it to:
B-M S Federal Credit Union
Attn: Member Service Coordinator
One Squibb Drive
New Brunswick, NJ 08903

Frequently Asked Questions

A dormant account is when an account does not have any activity for 12 months. Activities include but are not limited to deposits, withdrawals, and contact with B-M S Federal Credit Union. To help you avoid a dormant account, please make at least one transaction on your account within 12 months to maintain active status.

State and federal laws require us to make accounts dormant after a certain period of inactivity. Inactive accounts could be signs of forgotten accounts, and we want to protect our members’ money and information by placing restrictions to help prevent unauthorized access. You can reactivate your account by reaching out to us, and you’ll regain full access to your account.

To maintain an active status on your account, please remember to make at least (1) one transaction on your account within 12 months.

Dormant accounts have restricted access to prevent unauthorized access to your account. You may not be able to access your account electronically, and access to other services may be restricted.

Once your account remains dormant for 3 years, it is considered abandoned, and state law requires us to close your account and transfer your funds to the state. This process is called escheatment.

Once your account has been escheated, any funds in those accounts are considered unclaimed property with the state. To retrieve your unclaimed property, you can visit https://www.nj.gov/treasury/unclaimed-property/