SPRINGFIELD — Illinois State Treasurer Michael Frerichs’ staff will be in Rock Island on June 9 to reunite citizens with their unclaimed property through the I-Cash program.
In Rock Island, Henry and Mercer counties, an estimated 140,000 people have unclaimed cash or property currently under the Treasurer’s protection. The value exceeds $19 million. Statewide, Frerichs safeguards more than $2 billion in unclaimed cash and property.
“For most people, it is difficult to believe that they might have overlooked an investment account or forgot to pick up a final paycheck. However, the thousands of names in our database shows that it happens too often,” Frerichs said. “This money belongs to the residents of Illinois. It should be in their bank accounts rather than the state’s safe.” The event will be from 10 a.m. to 4 p.m. on June 9 at the Rock Island County Building, 1504 3 rd Ave. The treasurer’s office never charges a fee to search and return unclaimed property.
The treasurer’s office is the custodian of unclaimed property including lost bank accounts, insurance policy proceeds, unpaid rebate cards, and safe deposit boxes. Items are surrendered to the treasurer’s office after private entities have tried for at least five years to locate the owner.
Because thousands of items are surrendered each year, residents should check I-Cash every six months.
or call 217.785.6998.
About the Illinois Treasurer The Illinois Treasurer is the state’s chief investment officer and Frerichs is a Certified Public Finance Officer. He protects consumers by encouraging savings plans for college or trade school, increasing financial education among all ages, and removing barriers to a secure retirement. As the state’s Chief Investment Officer, he actively manages approximately $25 billion. The portfolio includes $13 billion in state funds, $7 billion in college savings plans and $5 billion on behalf of local and state governments.
The investment approach is cautious to ensure the preservation of capital and returns $28 to the state for
every $1 spent in operations. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.
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