President Paulson Sees Banking Innovation in Action on a “Gelt Bus”

What do buggies and bank accounts have in common?

Philadelphia Fed President and CEO Anna Paulson explored the answer during a visit to Bank of Bird-in-Hand in Lancaster County, Pennsylvania. There, she stepped inside the bank’s "Gelt Bus" — a mobile branch on wheels that brings financial services to the Amish and Mennonite communities across five counties — to see firsthand how the institution is bridging the gap in rural banking access.

At Bank of Bird-in-Hand, President Paulson got an up-close look at the Gelt Bus, a mobile banking unit that travels to communities across five counties.

Bank of Bird-in-Hand, founded in 2013, is Pennsylvania's newest bank and the first U.S. bank to be chartered since 2010. Known for agricultural lending and rural home loans, its standout feature is its mobile branch.

President Paulson was joined by Lori Maley, President and CEO of Bank of Bird-in-Hand, who demonstrated some features of the bank’s mobile branch.

The Gelt Bus, which translates to “money bus,” functions much like a regular bank branch. It has an ATM, a teller window, and office space, but it delivers these services directly to customers. A fleet of four buses regularly travels throughout the region to reach places where traditional bank branches have closed or never existed, areas considered banking deserts.

The data show that banking deserts are expanding. As banks consolidate or close local branches, rural areas increasingly lack access to financial services. The Philadelphia Fed's Banking Deserts Dashboard shows the scope of this challenge nationwide.

While online banking works well for some customers, others still value in-person service. During her visit, President Paulson asked bank leaders how they balance digital advancement with personal connection.

Inside the Gelt Bus, members of the Bird-in-Hand team gave President Paulson a tour.

For Bank of Bird-in-Hand President and CEO Lori Maley, who is also a former member of the Philadelphia Fed's Community Depository Institutions Advisory Council, the answer lies in listening. "Really understanding our customers' preferences and needs taught us that accessibility goes well beyond technology," she said. "It's about providing services that our customers have access to, can use, and most importantly, trust."

President Paulson also met with local business leaders to learn about economic conditions and employment trends.

This theme of balancing innovation with human connection carried through President Paulson's daylong visit to the county. During a roundtable with local business leaders, she discussed economic conditions and the impact of digital technologies.

Business leaders also discussed the potential impacts of advancing technologies on the local economy.

Business leaders shared their perspectives on how artificial intelligence and automation might affect local jobs, highlighting the importance of flexible, innovative solutions tailored to community needs.

"Innovation is about adaptability, not just technology," President Paulson said. “Hearing about how businesses are using, and not using, new technology is important for understanding broader economic trends."