Illinois State Treasurer holding nearly $3B in unclaimed property for residents

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GRANITE CITY, IL – Hundreds of people just across the river from the Arch are raking in thousands of dollars they never knew they had coming.

Everyone from a retired police chief to a 55-year-old bartender is cashing in.

There was an event at the Six Mile Library branch on Delmar in Granite City, Tuesday, to help make it happen.

It was part of an ongoing blitz from there to Alton to put people in touch with their unclaimed money.

State Rep. Monica Bristow, (D) Alton, has hosted about 10 such events in her district to make sure people know about the state treasurer’s “Icash” program.   The treasurer is holding nearly $3 billion in unclaimed money and property:  everything from uncashed paychecks, to stock dividends, and life insurance claims.

On average, one in four adults in Illinois has money waiting for them with more than 400,000 properties valued at more than $1,000 each.

Rich Schardan, the former police chief in Maryville and Granite City has found out he’s due about $1,900 his mother never claimed before she died.

“She would get dividend checks and I don’t think she realized after my dad passed ahead of her and she just wouldn’t cash them,” he said.

“Some of (the claims) are minute,” Bristow said.  “Some of them are very small.  I have another constituent this week we got in touch with.  It’s $200,000. It’s been sitting there for 12 years.  He did not know about it.”

There are more than 15 million unclaimed properties in Illinois, with hundreds of thousands added every year.

It’s very easy to find out for yourself.  Go the “Icash” web site, type in a name and hit search.

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