Sounds like someone (else) is fleecing the flock, the local congregation does not have a bank account under its legal name (the corporation that owns the deed and is owned by the WTBTS does, but not the legal entity that is the congregation and is owned by the elders) and they would only use this account for making cash deposits.
It would definitely not be under the name of one of the elders, it would be something like āKingdom Hall of <name of the area>ā and require 2 signatures for withdrawals. The āCongregation of Jehovahās Witnesses <name of the area>ā should not have any assets and at no point would they allow āJoe Elderā to be the congregation bank account.
All other bank transactions, including savings and credit card donations is handled directly by the local branch office.
I guess good for him, heās probably creaming off a nice chunk before forwarding. As long as he can hide it from the others, I know itās pretty simple to use your authority and subvert a younger MS to do this. Your CO must be laying into the donation thing pretty hard every time he comes though.