Illinois State Treasurer Mike Frerichs recently made headlines by personally delivering a certificate to Pope Leo XIV, formerly known as Robert Prevost, to reclaim $8.65 from an unclaimed property account. The sum was discovered in a closed PayPal account belonging to the pontiff, a Chicago native who ascended to the papacy last year.
Unclaimed Property Initiative
Frerichs, who oversees Illinois’ unclaimed property account, explained that the money had been sitting unclaimed and efforts to return it through the local archdiocese had initially failed. Seizing the opportunity to meet the pope, Frerichs joined a delegation organized by the Chicagoland Chamber of Commerce and traveled to Vatican City with his wife, Laura. The couple funded the trip personally, without using campaign or state funds.
In addition to the certificate, Frerichs presented Pope Leo XIV with a commemorative Abraham Lincoln coin and a book on Chicago history. Laura Frerichs brought along family rosaries for the pope to bless, highlighting the personal nature of the visit.
Impact on Unclaimed Property Awareness
Frerichs noted that the publicity surrounding the return of the $8.65 has been beneficial for raising awareness about Illinois’ unclaimed property department. He emphasized that when people hear about real examples of unclaimed property being returned, they are more likely to check the state website for their own unclaimed funds. Since becoming treasurer in 2015, Frerichs’ office has returned over $2.5 billion to more than 2.5 million people.
Pope Leo XIV, upon receiving the certificate, shared a humorous anecdote about his past dealings with a bank in Illinois, which had hung up on him when he identified himself as the pope. Frerichs related to the story, recounting his own experience with a bank regarding unclaimed property.
For Illinois residents interested in checking for unclaimed property, the treasurer’s website provides a resource at icash.illinoistreasurer.gov/.
Original reporting: WQAD (Quad Cities) — read the source article.
