Have you ever wished that money would just appear for you? Sometimes it does after you check Illinois Unclaimed Property database. On a recent Money Talk Radio Show, Illinois State Treasurer Michael W. Frerichs shared that the State of Illinois is holding $2.9 billion dollars in unclaimed funds for Illinoisans. The figure could represent unclaimed property that could have belonged to you. According to State Treasurer Frerichs, the unclaimed property program has paid out more than $300 million in assets during the last two years; however, there is so much more yet to be paid out to rightful owners.
When most people think of Unclaimed Property, they may think of abandoned bank accounts and forgotten safe deposit boxes. In reality, it covers much more. Unclaimed property includes uncashed wage and payroll checks, uncashed stock dividends and stock certificates, insurance payments, utility deposits, customer deposits, accounts payable, credit balances, refund checks, money orders, traveler’s checks, mineral proceeds, court deposits, uncashed death benefits and life insurance proceeds. Unclaimed property does not include real estate or vehicles.
Check out this Money Talk episode that discusses unclaimed property:
To see if the State of Illinois is holding cash or assets for you, click below.
At NuMark Credit Union, the last thing we want to do is to turn a member’s funds to the Illinois Unclaimed Property Division. Click here for tips to keep your money safe.
Photo Caption: Illinois State Treasurer Michael W. Frerichs, left, with Debbie Reed, NuMark Credit Union CFO and Scott Slocum, 1340AM WJOL Morning Radio Show Host, during NuMark Credit Union’s Money Talk Radio Show.
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