© 2024 Peoria Public Radio
A joint service of Bradley University and Illinois State University
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Treasurer: Changes Make it Easier to Find, Claim Property

People in Illinois now have a faster, easier way to find out if the state is holding any of their unclaimed cash or property.

Illinois Treasurer Michael Frerichs announced changes to the claims process. They include allowing people to file claims electronically an automated review process that allows for quicker approval and payment of lower dollar amount claims.

Frerichs says his office is the custodian of cash and property valued at more than $2.9 billion. He hopes the changes will encourage more people to visit the unclaimed property website and claim what is theirs.

The property includes insurance policy proceeds, lost bank accounts and safe deposit boxes that have been forgotten. Private entities surrender the items after trying for at least five years to locate the owners.


The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.