$22 million returned to Illinoisans in January 2025 from Unclaimed Property program

SPRINGFIELD, Ill. (WCIA) — Illinois State Treasurer Michael Frerichs announced Tuesday more than $22 million was returned to nearly 19,000 people in January through I-CASH, his office’s missing money program.

“Returning this money to the rightful owners is better than keeping it in our bank vaults,” Frerichs said. “It helps our state’s economy when people have a little more money in their pockets to spend at local businesses.”

I-CASH collects uncashed rebate checks, unpaid life insurance claims, forgotten checking accounts and the contents of overlooked safe deposit boxes from Illinois companies and banks after they lay dormant for a few years. The treasurer’s office is legally required to hold onto unclaimed money and property until it’s returned to its owner or heirs.

Frerichs is also proud to announce National Unclaimed Property Day was a success, as he said his office saw more than triple the number of claims initiated during that week. While his office usually averages 11,000 claims in a week, his office saw a whopping 38,389 claims initiated between Jan. 27 and Feb. 2 — a record.

The treasurer recommends everyone to check his website multiple times a year.

Frerichs has boasted his office’s achievements with the unclaimed program, with over $2.2 billion of unclaimed property returned during his tenure as treasurer. Nearly $300 million was returned to more than 330,000 claimants last year.

The treasurer has also implemented several reforms for the Unclaimed Property program, including a ICASH website in Spanish and enabling users to send potential unclaimed property to their friends and families. He has worked with the Illinois General Assembly to create the Enhanced Money Match program to return money automatically without filing a claim.