SPRINGFIELD, IL (Chambana Today) – The Illinois State Treasurer’s Office returned almost $299 million in cash in 2024.
The Illinois State Treasurer Michael Frerichs announced the return thanks to the missing money program, also known as I-CASH. I-CASH processed 331,032 claims last year with $260.6 million in cash and $38 million in securities returned. The average cash per claim was $902.
“Putting money back in people’s pockets helps families and our state’s economy. This money belongs with its rightful owners,” Treasurer Frerichs said. “We have made it easier to file a claim in many cases and streamlined the system with the help of state lawmakers.”
The program has been one of the state’s oldest consumer protection initiatives, responsible for unpaid insurance benefits, forgotten bank accounts, unused rebate cards and the contents of overlooked safe deposit boxes. The Office has allowed electronic claims and has leveraged technology to allow payments without a claim. Frerichs returned nearly $13.2 million to 140,000 people as part of the Enhanced Money Match program, which allows the State Treasurer’s Office to automatically return money without the need to file a claim.
More than $2.2 billion has been returned since the introduction of Frerichs, which is the most in State history. The State Treasurer’s Office urges people to check for missing money at least twice a year, which can be done icash.illinoistreasurer.gov. Illinois is currently holding more than $5 billion in unclaimed property.