The U.S. Treasury is encouraging Illinois residents to check any savings bonds they hold, with more than $700 million in matured bonds currently held by nearly 300,000 residents.
According to the latest numbers issued by the Treasury, $709 million in bonds are held by Illinois residents. Approximately 292,000 residents are currently in possession of bonds that have fully matured, meaning they are no longer accruing interest.
“Many of these bondholders are unaware that they have matured unredeemed bonds, or are not fully informed of the redemption process,” a spokesperson for the Treasury said.
To help inform those residents, the U.S. Treasury operates a website that allows bondholders to see how much their holdings are worth.
Bonds worth up to $500 can be cashed at most banks, according to officials, with higher amounts potentially requiring deposit into a bank account.
There are various types of bonds…
