WASHINGTON -- As one bank in California suffered death throes,some depositors throughout the country decided it was time for acheck up.
Federal regulators' decision to seize the California-basedIndyMac Bancorp, one of the largest bank closings in Americanhistory, prompted regulators and credit union trade associations togo to great lengths to assure members that their deposits areinsured.
NCUA Director of Public and Congressional Affairs John McKechniesaid the agency had received an "increased number of inquiries," onwhether credit union deposits were insured. He said those inquiriesprompted NCUA Chairman JoAnn Johnson to issue a statement lastMonday stating that all deposits are insured up to $100,000, withcoverage of up to $250,000 for some retirement accounts.
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