Saturday, August 15, 2009
 
sponsored by Graue Inc.

Treasurer Giannoulias says join the Cash Dash crowd

List to be in Monday's edition

Send a link to a friend

[August 15, 2009]  SPRINGFIELD -- Illinois State Treasurer Alexi Giannoulias' office might have a check with your name on it. All you have to do is check your local newspaper to find out.

The treasurer's office is publishing the names of about 7,000 residents and businesses in central Illinois county newspapers during the week of Aug. 16. All told, these lucky residents are owed $3.5 million in "free" cash.

"If your name is on the list, you have money or assets coming to you no strings attached," said Giannoulias, whose office is in charge of reuniting lost, abandoned or forgotten assets known as "unclaimed property" with the rightful owners or heirs through the state's Cash Dash program.

The Cash Dash lists will contain the names of Illinois residents who are owed $100 in cash, any value of stock or have lost safe-deposit box contents such as jewelry or other valuables. The names and property were turned over to the treasurer's office by financial institutions, business associations and other entities in the last six months.

Nearly $50 million in state-issued Cash Dash checks have been cut to 24,000 Illinois residents already this year, Giannoulias said. Still, statewide, more than $1 billion is being held for 10 million individuals and businesses.

To claim the money or assets, an owner or heir must locate his or her name on the Cash Dash list or on the state's online database and provide proof of identity, most commonly established by Social Security number.

Lola Brown of Champaign County recently filed a claim after her granddaughter discovered her name on the online database. She received more than $2,000 from an old insurance policy.

"It was definitely a surprise," Brown said. "I appreciated the service and the check."

[to top of second column]

Nursing Homes

Auto Sales

Unclaimed property consists of money and other assets held by banks and other businesses and considered lost or abandoned after an owner cannot be located for more than five years. Common forms of unclaimed property include paid-up life insurance policies, forgotten bank accounts and safe-deposit box contents.

Property owners' names are published in the county that corresponds to the last known address provided by the bank or business that turns over the property. In many cases, cash and assets become lost because their owners move and forget to furnish their broker, bank, employer or insurance company with a forwarding address. Eventually, the money makes its way to the treasurer's office for distribution.

There are many ways for residents to find out if the treasurer is holding their property. Along with checking local newspapers in February and August of each year, residents can search the treasurer's entire database by visiting www.treasurer.il.gov, following the Cash Dash link and typing in a name.

Throughout the year, the treasurer sponsors outreach activities to help residents who are unfamiliar with unclaimed property or who do not have Internet access to search the database for the property. In addition, twice a year the treasurer's office provides state legislators with a new list of owners of unclaimed property in their districts, and the legislators are asked to contact the individuals.

Residents who want more information on unclaimed property should contact the treasurer's office at 217-785-6998 or 312-814-1700.

[Text from file received]

< Top Stories index

Back to top


 

News | Sports | Business | Rural Review | Teaching and Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law and Courts | Leisure Time | Spiritual Life | Health and Fitness | Teen Scene
Calendar | Letters to the Editor