Almost everyone knows someone with unclaimed assets. Craig Racster, Community Affairs Specialist for the Illinois State Treasurer’s Office, will help to connect state residents with their unclaimed property at the Nashville Public Library on Friday, April 17, from 10 a.m. to 2 p.m.
The State Treasurer’s unclaimed property program, now known as I-Cash, is one of the state’s oldest consumer protection programs, dating back to 1962. One in four Illinois adults who searches the State Treasurer’s I-Cash database finds property to claim, and the average claim paid is $1,000.
Approximately 75 percent of unclaimed property—mostly bank accounts, insurance policies, and consumer refunds—comes from businesses headquartered outside of Illinois. On the I-Cash website, Washington County shows $570,955.65 in dollar amounts of unclaimed property and 3,997 names in the database.
The state of Illinois currently has $2.1 billion dollars in cash, plus contents from Illinois bank safe deposit boxes, which need to be returned to Illinois residents. Each year, hundreds of thousands of new properties are added to the State Treasurer’s I-Cash program.