Cash Dash Helps People Locate Unclaimed Assets

Libertyville’s Parks and Recreation Department and Libertyville Township will both be receiving a check from the State Treasurer's office after State Treasurer Dan Rutherford revealed that both governments have unclaimed cash that are being held by the state.

The State Treasurer was at as part of the Cash Dash event, which helps residents locate unclaimed money or property entitled to them. The process is funded by interest on the unclaimed assets and no tax dollars are used for the events.

“I wanted to do as much as I could to get money back into people’s hands,” Rutherford said.

The treasurer’s Unclaimed Property Division currently has $1.5 billion in cash, plus contents from Illinois bank safety deposit boxes that have been abandoned for at least five years. Businesses and banks are required to turn over unclaimed accounts to the treasurer’s office.

In Rutherford’s first year in office, his office was able to return $72 million of unclaimed property to residents. In the first nine months of 2010, the treasurer’s office was able to return $60 million of unclaimed assets.

“We average about 20 percent to 25 percent of the people that check, find either their name or their neighbors name,” Rutherford said.

There are currently more than 10 million entries in the Cash Dash database, but many are duplicates of the same name.

When Rutherford checked for Libertyville governments, he found that the Parks and Recreation Department had $350 in unclaimed assets, and Libertyville Township has $67.80 in unclaimed cash.

“I didn’t know that, but now I do,” said Libertyville Township Supervisor Kathleen O’Conner.

Mayor Terry Weppler was also surprised to learn that he had unclaimed assets from when his grandfather passed away ten years ago.

“At the time it was so difficult that I forgot about it,” Weppler said.

Operation Reunite

Rutherford says it’s common for people to lose track of their assets when they move or when loved ones pass away.

“There are family members that may not even think to check and because of this I’m also the holder of about 200 military medals and ribbons,” Rutherford said.

The treasure’s office has set up a page on its website called Operation Reunite, which lists the names and communities of the box-holders. The treasurer’s office is also working with veteran groups around the state to help return these medals to their owners or families.

“We are doing something that I think is very important,” Rutherford said. “A family, I’m confident, would like to be reunited with grandpa’s Purple Heart.”

How Cash Dash Works

Residents interesting in learning if they have unclaimed property can visit the treasurer’s website www.Treasurer.IL.gov and follow the Cash Dash link. The site is updated weekly to reflect new properties remitted to the office.

The Cash Dash team also conducts outreach across the state. The team made stops in Lake County Wednesday and will be in St. Charles Thursday.

Residents can also contact the Unclaimed Property Division at: 217-785-6998 or email: info@cashdash.net.