Credit union deposits are insured up to $250,000 per depositor by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the U.S. government. This means that even if a credit union fails, members' deposits up to the $250,000 limit are protected, similar to how bank deposits are insured by the FDIC. So credit union members generally do not have to worry about losing their money as long as their total deposits at a single credit union do not exceed the coverage limit.