Goldenhill Working Men's Club is taking cash only after its bank froze the club's account, which held about £3,700, according to the club's committee.
In an official statement to members, the committee said a former treasurer, who is "no longer authorised to act on behalf of the club", had "attempted to gain access to the club's bank account". The committee says the bank then froze the account while the matter is investigated.
The committee says it has reported this to Staffordshire Police and that it has been "added to their ongoing investigations". It says it will cooperate fully with the police and the bank.
According to the committee, all of the club's bills are up to date and staff wages have been paid.
As a precaution, the club has opened a new business bank account. The committee says it has been told this could take up to two weeks to be fully up and running, and until then the club can only take cash.
"Our priority is protecting the club, its members, staff and finances," the committee said.
It also asked members to "avoid speculation while the matter is under investigation".
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