Illinois State Treasurer’s Office News Releases

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Online Auction for Unclaimed Property

SPRINGFIELD — Silver bars, commemorative coins, stamps, and jewelry are among the 9,500 items worth $76 thousand to be auctioned online June 22-26, Illinois Treasurer Michael Frerichs said today. “Our unclaimed property team works hard to return valuables to their rightful owners. If the property goes unclaimed for 10 years, the items are auctioned to make room for incoming unclaimed items,” Frerichs said. Other auction items include vintage cards of Stan Musial, Elvis Presley, and Elizabeth Taylor. Baseball Digest magazines with covers of Billy Williams, Johnny Bench, and Brooks Robinson…

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Request $95K Return to State from Chicago Bank

CHICAGO — Illinois Treasurer Michael Frerichs today cut off investments to two Illinois banks for failing to meet Community Reinvestment Act (CRA) requirements. The CRA encourages banks and lending institutions to meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations. “We want to ensure the banks and financial institutions doing business with the state are reinvesting in the communities they serve,” Frerichs said. “Our office provides tools to help people make sound investments in banks and financial…

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Launch a Child’s College Savings Plan for $25

SPRINGFIELD — The 529 college savings plans take center stage on May 29. The 529 College Savings Day is a national effort to discuss college expectations and goals with children. “Too many families believe the dream of attending college is slipping away,” Treasurer Michael Frerichs said. “It is important for families to know that the first steps to that dream can be taken for as little as $25.” The Bright Start or Bright Directions college savings account are administered by the Treasurer’s or use an advisor for guidance. Age-based options…

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Illinois Treasurer Frerichs Opens Applications for New Internship Program

CHICAGO — Illinois Treasurer Michael Frerichs announced today a new, unpaid internship program to provide Illinois students with hands-on experience in public service. Interns can earn college credit and work in areas such as legal, investment operations, marketing, unclaimed property, and policy. “We want to provide students with a real-world, hands-on learning experience in public service,” Frerichs said. “With the right tools and a solid understanding of how government works, we can put Illinois students on the path to success.” When Treasurer Frerichs took office in 2015, he called for…

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Treasurer Frerichs Identifies Office Challenges, Shares Plans to Help Families Succeed

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today released a 100-day report that includes initial accomplishments and outlines steps to strengthen families and restore faith in government. The report identifies five proactive items the Treasurer’s Office has launched since taking office in January. It also includes an independent performance review by Plante Moran that identifies inherited challenges and potential resolutions. “My plan for the next four years focuses on what the State Treasurer’s Office can do to ensure working families have the tools they need to succeed,” Frerichs said. “We…

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