“We take horses as collateral all the time.” That’s Middlefield Bank vice president Al Thompson Jr. explaining how his institution works with Amish customers. Apparently, that practice goes against what lenders are taught (“never take anything for collateral that eats”). But for the Amish, the exception is worth it. “If they offer you the horse, you […]
Continue Reading 5 Facts On The Amish & Banks
Amish Bank accounts
We sold Hay once to Amish and the Names on the Account were not the names of the people buying the Hay or the Signature on the Check. Is this how they do business and is it acceptable?
They were probably hauling the hay for someone else who was buying it
Amish Bank accounts
They were buying the hay for themselves. How rude to think that I don’t know what I am talking about.
And did you ask them?
Well, did you ask them why? I think they would be the correct people to ask, not random strangers on the internet.
I work away five days a week and am rarely able to go to the weekly auctions where hay & straw are sold. I have often sent a signed check to the auction with a friend after asking him if he’d mind bidding on a load of hay for me. Another few possibilities are someone is donating a load of hay, or someone might have a struggle managing their personal finances and have someone else in charge of managing their finances.
Amish Check
I reported that I could not take that check to my bank and cash it as it was not endorsed by anyone holding the account. They took the check back and gave me Cash. I did not feel it was my right to know what was happening but it sure was curious. Since them, I have seen many discrepancies in how they do things in the financial area as well as others. When people consider that the Amish have high ethics, I wonder if they are blinded to what happens. It sure was peculiar to me. These people live less than a mile away from me.
If I had signed someone else’s check (even using my own name) that would be questioned at a bank when the account did not contain my name. The Account was also from an Out of state.
Does the Bank of Bird in Hand have many “English” account holders? Just wondering.
Alice Mary
Banking
Sounds like here years back when the dairy farmers were still close. The new bank had a Dairy desk and you could often see lights on early, early and a guy in a suit and another in overalls having a meeting before ‘regular’ hours. Nice to hear it’s still going on somewhere.
Bird in Hand Bank
https://www.philly.com/philly/blogs/inq-phillydeals/Amish-start-up-The-Bank-of-Bird-in-Hand-.html
Above is a link that will take you to an article about the bank as featured in the Philadelphia Daily News. They were also featured in Wall Street Journal – but that link would only let you read a portion of the article without being a subscriber.