Now the N.C. Credit Union League wants you to know that credit union members' deposits are federally insured -- just like bank customers' deposits.

The two organizations felt the need to reassure customers as federal agents rush to shore up troubled mortgage lenders Fannie Mae and Freddie Mac.

The National Credit Union Share Insurance Fund guarantees accounts up to $100,000, and certain retirement accounts can be insured up to $250,000. The Federal Deposit Insurance Corp. insures the same amounts per depositor per bank.

Both also allow you to get additional deposit insurance.

For example, you can have an individual savings account and a joint savings account at the same credit union, which would provide $200,000 in coverage.

"It's not the individual that's insured, it's the account," said John Radebaugh, president and CEO of the credit union league.

(The same is true at banks. You can gain additional insurance by using a combination of individual, joint and trust accounts -- enabling a family of four to insure up to $1.4 million at a single institution.

Dozens of state banks offer ways to deposit money at one bank that is then spread among a network of banks, enabling tens of millions of dollars in insurance coverage, the bankers association says.)

All of the nearly 120 credit unions in the state are required by law to have such insurance, according to the credit union league.

"While there are isolated instances of credit unions encountering difficulties," National Credit Union Administration Chairman JoAnn Johnson said last week, "on the whole, the credit union industry is healthy."