A depositor in Shangqiu, Henan province, claimed that her $7,000 (50,000 yuan) deposit had disappeared. The news raised many concerns among Chinese people about the safety of China’s credit union companies.

The woman, Ren, from Shangqiu, Henan, reported that, on April 3, her mother and aunt brought $7,000 in cash to a business point of a rural Credit Cooperative in Shanqiu city, Henan province. They deposited this amount into their credit account. But when they went to withdraw money on July 30, they discovered that the amount had yet to be credited to the card.

Due to the long period, there is no longer evidence to prove Ren’s mother deposited $7,000 in cash at the store.

According to Jiupai News, on November 23, Yucheng Shaji Credit Union Cooperative staff told a state reporter that the surveillance cameras at the depositors’ counters had been overridden for more than three months, and they were looking for a technology company to restore records. They are trying their best to recover records, investigate and collect evidence.

Right now, depositors and credit unions are at odds, and there’s a lot of weirdness in the details.

Usually, all deposit types are processed at the counter, and there is a corresponding deposit receipt to ensure the safety of the deposit. Financial institutions also have corresponding data records in transaction history.

However, in this case, the depositor did not have a receipt. Furthermore, there is also no transaction history data. Credit union companies have counter surveillance cameras to prove whether depositors have savings.

In addition, according to Jiangxi Morning News, Ren said that when the credit union first learned that the surveillance data had been overwritten, it asked them to send $28,000 to recover the data. However, they later changed, saying they had found an agency to help them recover surveillance data.

The matter is still under investigation, and there is no answer for the amount missing from Ren’s family.

Ren told the state media helplessly, “The farmer family saved every penny for a long time.”

Weibo Netizens left Comments:

@Watchman -: “Not surprising in Henan.”

@ Ice moon Candlelight -: “There are such things everywhere every year. I hope they investigate it thoroughly.”

Another Weibo user @ commented that older people in rural China are often the target of Credit Unions enticing them to deposit their savings. But few Credit Unions take the time to patiently explain the deposit procedure to them.

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