Treasurer Frerichs Returns $11.5 Million In Unclaimed Property In July
SPRINGFIELD – The Illinois State Treasurer’s Office returned more than $11.5 million in unclaimed property during July, Illinois Treasurer Michael Frerichs announced today. The total includes nearly $11.5 million in cash and interest and almost $45,000 in stock value. All told, 12,554 claims were paid. “My office helps the Illinois economy by putting money back in people’s pockets,” Frerichs said. “I have taken numerous steps to make the system of reuniting people with their unclaimed property more efficient.” Illinois’ unclaimed property program — also known as I-CASH — is one of the state’s oldest consumer protection initiatives. The State Treasurer is tasked with safeguarding unclaimed property, such as the contents of overlooked safe deposit boxes, unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. Illinois holds more than $5 billion in unclaimed property. The Treasurer’s
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