Bank Checking & Savings Accounts
A transaction account, checking account, or demand deposit account is a deposit account held at a bank or other financial institution which is available to the account owner “on demand” and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds.
Transaction accounts are generally used for the business or personal convenience of the account holder. They normally do not earn any or a high interest and the financial institution that maintains the account commonly charges account maintenance or transaction fees to the account holder.
Saving accounts (UK: savings accounts) are accounts maintained by retail financial institutions that pay interestbut cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing acheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and, in some jurisdictions, does not incur a reserve requirement. Cash in the bank’s vaults may thus be used, for example, to fund interest-payingloans.
The other major types of deposit account are the transactional account (usually known as a “checking” (US) or “current” (UK) account), money market account and time deposit.
Fort Valley
Fort Valley is a city in and the county seat of Peach County, Georgia, United States.[5] As of the 2010 census, the city had a population of 9,815.[6]
The city is in the Macon metropolitan area.
The town’s name is a mystery, as it has never had a fort. Historians believe that the name was mistakenly changed in a transcription error when the post office was named; the area was originally thought to have been called Fox Valley.[1]
Founded in 1836, Fort Valley was incorporated as a town in 1854 and as a city in 1907. In 1924 Fort Valley was the designated seat of the newly formed Peach County.[7]
Fort Valley was the backdrop for a Life magazine feature story in the March 22, 1943 edition. The World War II-era story focused on the town’s sponsoring of the “Ham and Egg Show,” a contest held by African-American farmers to highlight ham and poultry production in Peach County, Georgia.[8]