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I have 2 "Confirmation of Time Deposit" @ $25,000. each, with an interest rate of 3.9%, issued August 1, 2008, at Midwest Bank and Trust Company. The Bank was closed by FDIC, and is now "First Merit Bank". First Merit claims to have no record of these deposits. They "guess" the C.D. were forwarded to the Illinois State Treasurer Unclaimed Property by the Midwest Bank. An online search to icash.illinois.gov. yielded no results. Besides a written inquiry to "Unclaimed Property Division", what recourse do I have? Thank You, for any pertinent advice. James Grazys ([email protected])
State relating to question: Illinois
Additional information to your question: 2 Certificates of Deposit @ $25,000. each, 08/01/08, deposited at "Midwest Bank" which was closed by FDIC reopening as "First Merit Bank" with no knowledge of the C.D., suggesting contact with "Unclaimed Property of Illinois" which yielded no results
Responses: You need to do a search with FDIC unclaimed funds database because FDIC had control of your funds because of the closure of the bank. When the bank closed, FDIC assumed control and any unclaimed funds would be with the FDIC. This is separate from Illinois unclaimed funds. Click on the link below to begin your search:
Let me know how you made out.