A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit account or bank account held at a bank or other financial institution. It 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 debit cards, cheques and electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds. In accounting terms, they are considered as cash.
1967 letter by the Midland Bank to a customer, informing on the introduction of electronic data processing and the introduction of account numbers for current accounts
An Automated Teller Machine (ATM)
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts, share draft accounts, credit cards, credit, share term certificates, and online banking. Normally, only a member of a credit union may deposit or borrow money. In several African countries, credit unions are commonly referred to as SACCOs.
A branch of the Coastal Federal Credit Union in Raleigh, North Carolina
Statue in Rača, Bratislava of Samuel Jurkovič, founder of the first cooperative, or credit union, in Central Europe (Spolok Gazdovský)
The directors of the Mulukanoor Women's Thrift Cooperative stand at the entrance to their credit union in Karimnagar district, Telangana, India.
Friedrich Wilhelm Raiffeisen founded the first rural credit unions in Germany.
