HOCKEY AWARDS Similkameen players win end of year accolades See page 9
HISTORIC WATERFRONT
OK FALLS LEGION WINNERS
Kaleden’s waterfront buildings turn 100 See page 14
Poster contest winners from Kaleden and Okanagan Falls See page 13
E H T HIGHLIGHTED LABEL MEANS SUBSCRIPTION EXPIRED
www.keremeosreview.com
Vol.15 Number 16
Thursday, April 19, 2012
$1.15 including HST
Serving the communities of Keremeos, Cawston, Okanagan Falls and Kaleden
Forgotten fund$ Bank of Canada is looking after money left in Keremeos Youth Association Gaming account since 2001 By Steve Arstad news@keremeosreview.com The Review recently received a letter from a Vernon resident who, during a search of unclaimed balances through the bank of Canada’s web page, discovered an unclaimed balance that originated with the Canadian Imperial Bank of Commerce in Keremeos. The letter was sent to the Review with a request to look into finding the owner of the unclaimed balance, rather than see it “go to waste”. An “unclaimed balance” is a Canadian-dollar deposit or negotiable instrument, issued or held by a federally regulated bank or trust company. It can be in the form of a deposit account, bank draft, certified cheque, deposit receipt, money order, GIC, term deposit, credit card balance, or traveller’s cheque. If an account goes dormant for a period of 10 years, and if the owner can no longer be contacted by the institution holding the security, the balance is turned over to the Bank of Canada, which acts as custodian on behalf of the owner. Balances are transferred to the Bank of Canada once a year, on 31 December. We took the copy sent to us to the Keremeos Bank of Commerce. Branch manager Dawna Foidart told us that, because the account had been dormant for so long, it had been
transferred to the Bank of Canada, and the local bank no longer had any records related to it. The unclaimed balance of $545.92 is registered in the name of the “Keremeos Youth Association Gaming Account”, with an address listed as R.R#1, S3, C14, Keremeos. The savings account number is 05-20039 0, and the last transaction on the account was Nov.29, 2001. The account was transferred to the Bank of Canada at the end of last year. The passage of Bill C-37 on March 29, 2007 brought the following rules into effect regarding the handling of unclaimed balances: The Bank of Canada will now hold unclaimed balances for thirty years, once they have been inactive for ten years at the financial institutions. Therefore, balances will now be held for a total of forty years prior to being prescribed. Only balances of less than $1,000 will be prescribed after the forty-year period. Previously the limit was less than $500. Think you might have forgotten about a bank account sometime in the past? It happens - the Bank of Canada is currently looking after 1.3 million unclaimed balances, worth approximately 465 million dollars. Over 93 per cent of these were balances of less than $1,000, which represents 29 per cent of the total value outstanding.The oldest balance dates back to 1900. For more information on claiming a balance, contact the Bank of Canada’s website, “How to Claim” at: http://www.bankofcanada.ca/ unclaimed-balances/how-to-claim/
Photo by Steve Arstad
Frank Forward of Penticton packs up his fishing rod after an early morning session on Yellow Lake earlier this week. The ice broke up on the weekend, and boats are replacing ice huts on the popular fishing lake.
Crime Stoppers looking for custom mountain bike During the night of March 15/16, a mountain bike was stolen from a locked shed in the Industrial area of Penticton. The bike is described as being a “specialized” racing style with a mono shock rear end, upgraded “888” front shocks and a custom color change paint job that ranges from green to purple depending on the angle and light when observed. Serial #PC 281186 with a replacement cost
of over $3,000. Anyone with information on the location of this bike is asked to contact Crime Stoppers at 1-800-222-8477 (TIPS) or go to our website www.southokanagancrimestoppers. ca for other anonymous methods of passing along information. Should your information lead to an arrest, you may qualify for a cash reward up to $,2000.