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Home >> Special Situations >> Deceased Individuals
Getting Funds from Defunct Bank
My grandfather opened a savings account for me in 1987, with the Irving Federal Savings and Loan Association in Illinois, however, that bank is no longer in existence, but I have money that was not yet claimed. The last deposit was in 1993, but I just recently found the savings book. My grandfather has passed away, and I was wondering how to get my money.
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 Irving failed and went into receivership in 1992, becoming Irving Federal Bank for Savings, F.S.B. It was merged into Park National Bank in 2006. Park National's main office is at 801 North Clark Street, Chicago, 60610, and it has 32 offices in Illinois, 22 of them in Cook County.
It's most likely that the bank surrendered the account to the state of Illinois under its unclaimed property laws. You can learn about how best to look for unclaimed deposits at www.missingmoney.com, a website maintained by many of the state treasurers' offices that administer unclaimed property laws.
Published on BankingQuestions.com 8/18/09
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