Consumer complaint received 2015-09-08
Product: Bank account or service — Other bank product/service
Issue: Deposits and withdrawals — 
Company: U.S. BANCORP (CO)

Over the past 18 months, the XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) has had more than {$35000.00} in progressive cash deposits stolen. This was just recently discovered by club members and it is unclear who is responsible. 
The XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) is a non-profit, XXXX ( c ) ( XXXX ) corporation in the state of Colorado. The club exists to support gymnasts who compete on the XXXX XXXX XXXX XXXX XXXX competitive teams at XXXX XXXX, XXXX XXXX XXXX, Colorado XXXX. Members of the club must have a daughter on the competitive team to be a member of the XXXX club. Because of the nature of the sport there is a lot of turnover in club membership. 
Like many other non-profits in Colorado, the primary fundraising vehicle used by the XXXX is to run XXXX sessions at the XXXX hall. XXXX has been doing this for almost fifteen years. The club runs XXXX XXXX sessions each Friday night. The sessions are held at XXXX XXXX, XXXX XXXX XXXX XXXX, at XXXX and XXXX. XXXX typically nets the club around {$100000.00} per year. 
By state law, XXXX is an all-cash operation. Each Friday night the XXXX manager, a licensed member of the club, picks up {$2800.00} in " starter cash '' for each session XXXX there are XXXX sessions each night ) from US Bank, XXXX XXXX XXXX XXXX. The cash is picked up in a XXXX locked safety deposit bags. During the XXXX session, XXXX members of the club are present at the XXXX hall running the XXXX operations. The club is divided into XXXX team that work XXXX once or twice a month. Key positions are the XXXX manager and cashier. The XXXX manager is responsible for managing all operations, tracking operations and preparing reports required by the state. Each XXXX manager has a set of keys for the safety deposit bags. The cashier is responsible for tracking and counting all cash, and preparing deposit slips for the evening. 
After each XXXX session ends ( typically about XXXX and again around XXXX ), cash deposits and deposit slips are prepared and locked back in the safety deposit bags. Each bag contains XXXX separate deposits ; a " progressive '' deposit, typically XXXX dollars, and a " cash '' deposit, typically several XXXX dollars. The manager is escorted by an off-duty police officer back to the US bank where the cash bags are deposited in the night deposit box. US Bank employees typically count the cash and make deposits on Saturday morning. The deposits are typically posted to the clubs account on Monday or Tuesday of the following week. 
On XX/XX/XXXX, our club treasurer, XXXX XXXX XXXX, noticed that no progressive deposits had been made since XXXX. Once it was discovered by the club treasurer our records were reviewed by the Games Manager, XXXX XXXX XXXX and again by myself. We found that beginning in XX/XX/XXXX, occasional progressive deposits were not posted to the club bank account. These missing deposits increased in frequency until the majority of deposits were not being posted to the club bank account. We discovered that, since XX/XX/XXXX, XXXX deposits, totaling {$35000.00} dollars are unaccounted for. A listing of all of the missing deposits and who worked each evening is attached to this letter as well as a detailed spreadsheet showing every deposit slip, deposit receipt, and bank statement for XXXX accounts used. For each missing progressive deposit, duplicate deposit slips written by the cashier are present in the clubs records. Since discovered, the club has taken preventative measures to ensure this can not happen again.We appreciate your help in this matter and are willing to support in any way possible. Our club records are available for review. If you have any questions, please contact me aat XXXX, or via e-mail at XXXXXXXXXXXX