Illinois might have your money, treasurer says, has over $3.5 billion in unclaimed funds

The back of a $50 bill
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(WBBM NEWSRADIO) — An Illinois program called “icash,” which helps people and businesses find unclaimed money or property, has had another record year.

That's led Illinois State Treasurer Michael Frerichs to encourage more people to check out the program and see if they can find extra cash to help them deal with rising prices.

Frerichs said the state's icash program helps people find such things as forgotten bank accounts and unpaid life insurance benefits.

“The average amount last year was about $1,000, but also check for your family members or deceased relatives who might have had money in an account that you weren’t aware of,” Frerichs said. “You can also check for your business.”

On its website, the state says its icash program is holding over $3.5 billion in unclaimed funds for Illinoisans.

Frerichs says over the last fiscal year, the icash program returned about $280 million in unclaimed money and property to people and businesses.

“We’re always looking at more ways to get more money out there, especially in times like today, when a lot of families are going into grocery stores and are hurting,” Frerichs said. “We are trying to put more money in their pockets to help them out.”

After fund are claimed by either the original owner or their heirs — with proper identification — the state said on its website that property is returned at no cost.

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