The Yorkshire Penny Bank Ltd
The advertisement below featuring The Yorkshire Penny Bank Ltd appeared in the January 1947 issue of Tickhill’s Parish Magazine. Four years later this magazine carried another advertisement for the bank, still only opening on one evening a week, a Monday, for half an hour but by then at 7 Castlegate. The local actuary in charge had changed from Charles Thomas Rice, headteacher at the Church School, to Albert Hulley, a clerk, bell ringer and lifelong Tickhill resident. The nearest full branches were in Doncaster (at the junction of High Street and Scot Lane opposite the Mansion House) and Rotherham.
Originally called The West Riding Provident Society and Penny Savings Bank founded in Halifax in 1859 by mill owner Colonel Edward Akroyd, in 1860 it became known as The Yorkshire Penny Bank (becoming a Limited Company in 1911) because the bank opened branches in other parts of Yorkshire. The intention of the bank’s founder was that it would help working class people to save, hence an account could be opened with just one penny. Initially only up to £30 a year could be deposited with a maximum holding of £150. Within two years the bank had opened 128 branches with many more sub-branches subsequently opening in schools, church halls and mechanics institutes in the evenings for 30 to 45 minutes. The bank was particularly keen to open sub-branches in schools to encourage pupils to develop a savings habit, the first of these banks opening in 1874. Some rectangular, blue, enamel plaques have survived from these sub-branches with the bank’s name written in white with the opening time. It is not known whether one of these plaques was installed in Tickhill. Can anyone remember seeing one?
The Home Safe, advertised above and shown below was akin to a money box with various slots near the top for different denominations of coins. Slits down the side below each slot showed how many coins were in the safe. The Home Safe had to be taken to the bank to be unlocked! Each bank member received a Home Safe for free and so there could still be some of them in Tickhill homes.
As well as a Home Safe each bank member received a pass book where deposits, withdrawals and any interest could be recorded. The pass book had a blue front cover. Again, some of these could have survived locally. From 1872 the bank issued cheque books particularly to help traders and shopkeepers.
Before Tickhill had this bank, one way in which women and children could put money aside was to join the Clothing Club. The benefit of this system was that members could receive a bonus, similar to interest, thanks to wealthier local people making donations to the club. The club’s treasurer decided whether or not the members were sufficiently poor to receive the bonus.
By the late 20th century Tickhill had several banks, although these did not include the Yorkshire Bank (so called from 1959). Subsequent changes to the way people use banking as a result of the introduction of the internet, smartphones and debit/credit cards have resulted in the closure of Tickhill’s banks leaving the Post Office to provide basic banking facilities alongside ATM machines. What was once a Yorkshire institution, the Yorkshire Bank became part of the National Australia Bank group in 1990 before being sold on to other financial corporations.
Thanks to Frank and Ann Watkinson for the loan of Tickhill Parish Magazines from 1947 and 1951.