Savings

Bank Savings Accounts

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.

Corry

 

Corry is a city in northwestern Pennsylvania in the United States. With a population of 6,605 at the 2010 United States Census, it is the second largest city in Erie County. Corry is a part of the Erie, PA Metropolitan Statistical Area. The city became famous in the late-19th and early-20th centuries for being the manufacturer of Climax locomotives.

Erie County was formed from parts of Allegheny County on March 12, 1800.[1] On May 27, 1861, tracks owned by the Atlantic and Great Western Railroad intersected with those of the Sunbury and Erie Railroad and was called the “Atlantic and Erie Junction”.[2][3] Land at the junction was owned by Hiram Cory, who sold a portion to the Atlantic and Great Western in October 1861. The railroad built a ticket office at the junction and named it for Cory, but through a misspelling it became Corry.[2]

The combination of railroad growth and the discovery of oil in nearby Titusville contributed greatly to Corry’s development. This boomtown was chartered as a borough in 1863 and designated as a city in 1866. Industry has played a big part in Corry’s growth, and the Corry Area Historical Society maintains a museum where one of the Climax locomotives (the steam engine used in logging operations that brought fame to Corry) is on display.

Corry has been named a Tree City USA for seven consecutive years.[4]

The Corry Armory was listed on the National Register of Historic Places in 1991.[5]