Banking association says put extra Y2K cash back where it’s safe

A financial industry official says Iowans who took out big wads of cash as a Y-2-K precaution last week should put that money back in their accounts soon. Ben Hildebrandt, a vice president with the Iowa Bankers Association, says it’s a risk holding on to large sums of money.In addition to the risks of the money being stolen, destroyed or otherwise lost, Hildebrandt says there’s another reason to re-deposit the dough in a savings account.Many other people may have the same idea to get to the bank today and deposit their emergency funds. Thieves & robbers may also be lingering. Hildebrandt says people carrying large sums of money should be cautious.He says Iowans are actually losing money the longer they keep their large chunks of change out of the banks since they’re not earning interest.