UPDATE: ROCKFORD (WIFR) – Over 120,000 people in the Rockford area could pick up some extra cash.
Staff from the treasurer’s office stopped by to help those checking through the I-Cash program. Officials say those in Winnebago County may have over $23 million in unclaimed property.
ILLINOIS (WIFR) -- Illinois State Treasurer Dan Rutherford is encouraging Winnebago County residents to stop by his I-Cash table in Cherry Valley on Tuesday, February 4. The event is being held at the Cherry Valley Public Library at 755 East State Street in Cherry Valley. Although Treasurer Rutherford will not be in attendance, staff will be available from 11 a.m. – 3 p.m. to help anyone wishing to determine if the state is holding any money or unclaimed property entitled to them. In fact, 120,033 owners in Winnebago County have $23,425,077 in unclaimed property. This is according to the January list of unclaimed property holders.
“People are thrilled to find out they have money just waiting for them through I-Cash,” says Rutherford. “I encourage you to come visit me at local I-Cash events for assistance in locating unclaimed money or property – plus everyone should make an attempt to review our online database annually so they don’t miss out on money or valuable assets the state is holding for them.”
The rebranding of the I-Cash program has dramatically increased the number of searches and claims filed. In the first month after the launch of I-Cash, the number of web visits increased by 140 percent, and the number of claims increased by 322 percent as compared to the month prior.
The treasurer’s Unclaimed Property Division’s costs, including staff, computers and travel, are paid for through the Unclaimed Property Trust Fund, and not by tax dollars.
The Unclaimed Property Division has over $1.8 billion in cash, plus contents from Illinois safe deposit boxes that have been inactive for at least five years. During Rutherford’s first year in office, the program marked the first time in history that the treasurer’s office returned more than $100 million to the people who owned those assets. The total for 2012 was $129 million, a 27 percent increase over the previous year. In past administrations, the I-Cash program returned about $80 million annually to owners.