(The Center Square) – Illinois Treasurer Michael Frerichs is working with U.S. Rep. Danny Davis, D-Chicago, to urge the U.S. Treasury to make it easier for states to facilitate the return of mature U.S. Savings Bonds.
Freichs said at a news conference in Chicago that the Illinois Treasurer’s Office has an unclaimed property and missing money department where they take money that was maybe forgotten in an old savings account, and they put that money back into the pockets of those who may claim the assets.
“When we put that money back into people’s pockets, they’re able to use that money to maybe go out and take their family to dinner or go shopping,” said Frerichs. “When we get that money circulating throughout our economy, it does a lot more good for our state than it does sitting in a bank vault somewhere.”
Freichs said the Illinois Treasurer’s Office is aware that there are other forms of money out there that…
