• About Us
  • Contact Us
  • Privacy Policy
Thursday, June 4, 2026
No Result
View All Result
CNI
Subscribe
  • Home
  • News
    • Business
      • Economy
      • Technology
    • Capitol Briefs
    • Courts
      • Law Enforcement
    • Corruption Cases
      • Madigan Trial
        • Michael Madigan: The Rise and Fall
        • Madigan Trial in Review
      • ComEd 4 Trial
      • Emil Jones Trial
      • Paul La Schiazza Trial
      • Sam McCann Trial
      • Tim Mapes Trial
      • James Weiss Trial
    • Education
    • Environment
      • Agriculture
      • Energy
    • Government
      • Budget
      • Health
      • Immigration
      • Infrastructure
    • Healing Illinois
  • Investigations
    • Police Hiring
    • No Schoolers
    • Funeral Home
    • Culture of Cruelty
  • Elections
    • Election Guide
    • Candidates Questionnaire
    • Primary Results
  • CNI InsiderNew
  • Podcasts
  • About Us
    • News Team
    • Events
    • Careers
    • Privacy
    • Terms
  • Media Center
    • Pressroom
    • Republish Guidelines
    • Press Releases
    • Editorial Independence
    • Conflicts of Interest
    • Code of Ethics
    • Submit News Tip
    • Contact
  • Support Us
    • Support
    • Donors
CNI

Illinois treasurer’s gift to Pope Leo? $8.65 of pontiff’s own money

Robert Prevost had money in unclaimed property from closed PayPal account

Jerry NowickibyJerry Nowicki
June 4, 2026
in Government
A A
Mike Frerichs speaking to Pope Leo XIV

Pope Leo XIV speaks to Illinois State Treasurer Mike Frerichs in St. Peter's Square at The Vatican. Frerichs returned $8.65 of the Pope’s own money from the state’s unclaimed property system. (Photo courtesy of Treasurer Mike Frerichs’ Twitter account)

0
VIEWS
FacebookShareReddit

Article Summary

  • State Treasurer Mike Frerichs visited the Vatican this week with a gift for the pope: $8.65 of his own money.
  • Frerichs administers the state’s unclaimed property system, and the sum was in a PayPal account that the Chicago native has since closed.
  • Any Illinoisan can check to see whether they have unclaimed property on the treasurer’s website, illinoistreasurer.gov/.

This summary was written by the reporters and editors who worked on this story.

Vatican City’s been a popular spot for Illinois dignitaries since Chicago native Robert Prevost ascended to the papacy last year.

Leaders from Chicago Mayor Brandon Johnson to lawmakers to Gov. JB Pritzker have come bearing gifts for Prevost, now known as Pope Leo XIV — a Chicago-brewed “Da Pope” beer, city-sourced giardiniera, an Illini No. 14 jersey, Chicago White Sox gear and more.

Illinois State Treasurer Mike Frerichs’ gift, however, was possibly the most on brand. He delivered the pontiff a certificate to reclaim $8.65 of his own money, a sum the successor of St. Peter had held in a now-closed PayPal account.

The money had been sitting in Illinois’ unclaimed property account, and Frerichs — the account’s administrator — has been trying to return it.

“We found this money last year after he became pope,” Frerichs told Capitol News Illinois in a phone call Thursday morning while still in Italy. “We reached out to the local archdiocese trying to get him to claim it, and it fell through the cracks.”

Plan B? “Well, let’s deliver it in person,” he said.

That opportunity came to fruition on Wednesday.

allwyn allwyn allwyn
ADVERTISEMENT

He was invited to accompany a delegation organized by the Chicagoland Chamber of Commerce, and he and his wife Erica decided to make it a personal trip. He was raised Lutheran, she’s Catholic.

They paid for the trip personally, he said, using no campaign or state funds.

“My wife and I came together and made it a bit of a longer trip,” he said. “But I figured when I had the opportunity to meet the pope, you would take it.”

He also gifted the pontiff a commemorative Abraham Lincoln coin from a leftover supply the treasurer’s office had minted years ago, and a book about Chicago history. Erica Frerichs brought some of her family’s rosaries for the pope to bless.

As for the $8.65, Frerichs acknowledged that it’s garnered good press. It’s an election year, and Frerichs is slated to face Max Solomon in the general election, who won the GOP nod as a write-in candidate.

But his marketing of unclaimed property is nothing new.

“We know when people hear about our unclaimed property department, when they see an example of a real person getting money, more people visit our website, and when more people visit our website, we return more money,” he said. “Part of the reason we have smashed records on unclaimed property is because of how we market it differently.”

Frerichs first became treasurer in 2015, and his office has since returned more than $2.5 billion to more than 2.5 million people. That means Pope Leo’s PayPal windfall accounts for roughly 0.00000034% of the money returned.

“Some of them are amazing,” he said of the returns of unclaimed property. “We have an $11 million return, which is the largest in U.S. history. We’ve had million-dollar returns, half million. And some for only $8.65 actually probably will be the most memorable ones of my time in office.”

Upon receipt of the certificate from Frerichs, the pope chuckled and shared a now oft-repeated anecdote about calling his bank to close an account, only to be hung up on when revealing himself to be Pope Leo.

“It’s a true, slightly modified, but true story,” the pope can be heard saying in a video of the interaction. “A bank in Illinois.”

Frerichs told CNI he “completely understood that.”

He shared an anecdote from a few years back, when he had an issue with a bank that threatened to turn a sum of money over to the state’s unclaimed property administrator.

“I said, ‘Sure, go ahead and do that,’ and they said, ‘Sir, we don’t think you understand, it’ll be more work to claim it from your state’s unclaimed property administrator than to do what we’re asking you to do,’” he said.

“And I said, ‘No, I think I understand our state’s unclaimed property pretty well, go ahead and send it. … You’ll be sending it to me, because I am the state’s unclaimed property administrator,’” he said. “And then there was a pause, and they said, ‘Let me get a manager.’”

So, what’s next for Pope Leo?

“He just has to give us an address to mail the check to,” Frerichs said.

Any Illinoisan can check to see if they have unclaimed property on the treasurer’s website, icash.illinoistreasurer.gov/.

Capitol News Illinois is a nonprofit, nonpartisan news service that distributes state government coverage to hundreds of news outlets statewide. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.

Tags: Brandon JohnsonChicagoChicagoland Chamber of CommerceJB PritzkerMax SolomonMike FrerichsOffice of the Illinois State TreasurerPayPalPope Leo XIVRobert PrevostVatican City
Jerry Nowicki

Jerry Nowicki

Jerry began his career in news in 2013 and has covered state government since 2019. He was the editor of the LeRoy Farmer City Press in McLean and DeWitt counties from 2013 until it closed in 2017. During that span, the Press was named the state’s best small weekly newspaper by the Illinois Press Association. He was born and raised in south suburban Evergreen Park and graduated from Illinois State University with a degree in journalism.

Related Posts

Emanuel “Chris” Welch next to Don Harmon

Detention centers, exoneree restitution, foster care protections among final bills to pass

June 4, 2026
0
JB Pritzker

‘We didn’t have time’: Pritzker, leaders defend adjourning without Bears deal

June 1, 2026
1.1k

Creative Commons License

Republish our articles for free, online or in print, under a Creative Commons license.

Republish this article

Creative Commons Attribution-NoDerivatives 4.0 International License

This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

When republishing or co-publishing our stories, please copy and paste our tracking code (found at the bottom of the copy below - it includes the words "republication-tracker-tool") anywhere in the body of this article in your website’s content management system. This will let us know how much traffic our story has received. Republishing Guidelines.

Illinois treasurer’s gift to Pope Leo? $8.65 of pontiff’s own money

by Jerry Nowicki, Capitol News Illinois
June 4, 2026

1
Facebook Twitter Bluesky Soundcloud Instagram Youtube RSS
CNI
2501 Chatham Road, Suite 200
Springfield, IL 62704
editors@capitolnewsillinois.com
 
  • About Us
  • Contact Us
  • Media Center
  • Privacy Policy
  • Terms of Use

Capitol News Illinois is a nonprofit, nonpartisan news service covering state government. A service of the Illinois Press Foundation.

SubscribeMore news from the Illinois Statehouse delivered to your inbox.

© 2026 Capitol News Illinois

No Result
View All Result
  • Home
  • News
    • Business
      • Economy
      • Technology
    • Capitol Briefs
    • Courts
      • Corruption Cases
      • Law Enforcement
    • Environment
      • Agriculture
      • Energy
    • Government
      • Budget
      • Education
      • Health
      • Immigration
      • Infrastructure
    • Healing Illinois
  • Investigations
    • Police Hiring
    • No Schoolers
    • Funeral Home
    • Culture of Cruelty
  • Elections
    • Election Guide
    • Candidates Questionnaire
    • Primary Results
  • Capitol News Insider
  • Podcasts
  • About
  • Media
  • Support
  • Subscribe

© 2026 Capitol News Illinois