Wikipedia (yeah, not the best source: http://en.wikipedia.org/wiki/Credit_unions_in_the_United_Sta...) claims that all federally chartered and nearly all (95%?) state chartered credit unions are insured to $250k through NCUSIF. Sounds like a pretty safe bet to me. I'm not so sure you're screwed if they go under, although maybe someone can point on an example of that actually occurring?