More than $21.4 million in unclaimed cash and property is linked to La Salle County residents, according to Illinois Treasurer Michael Frerichs, and his office is working to reunite those funds with their owners.
Money and property can be claimed through the I-Cash program operated by treasurer’s office. The program safeguards unpaid life insurance benefits, forgotten bank accounts and unused rebate cards until they can be returned to their owners. The treasurer’s office reports La Salle County residents are tied to more than 142,000 unclaimed properties.
Frerichs is making a statewide push in digital media, newspaper and direct mail to remind Illinois residents that there is more than $3.5 billion in unclaimed property statewide. State law requires the Illinois Treasurer’s Office to publish newspaper ads in all 102 Illinois counties every six months and to send letters to residents who have newly reported unclaimed property of $100 or more.
“It’s often a surprise for people to find out they have an overlooked investment account or final paycheck they forgot to grab. We aim to rectify that oversight, and it’s easier than ever to do,” Frerichs said in a news release. “This money and property belong to the residents of Illinois. It should be in their pocketbook rather than the state’s safe.”
An estimated one in four adults in Illinois who search I-Cash find unclaimed property, and the average claim is $1,000. Frerichs has returned a record $1.3 billion in unclaimed property through nearly 1 million claims during his tenure. He prioritized changes in technology, efficiency and state law to streamline the process, according to a news release from his office.
Thousands of items are reported and remitted to the state annually, and residents are encouraged to check the unclaimed property database twice each year. To search for unclaimed property, visit www.illinoistreasurer.gov/ICASH.