News of late regarding the failiure of IndyMac bank would lead you to believe that your money is not safe in banks. Fact or fiction? Are you willing to gamble with your money to find out?

The Federal Deposit Insurance Corporation protects U.S. citizens by guaranting deposits up to a certain amount. That amount is different depending on what combination or types of deposits you have. And like many other nooks and crannie about givernment, deposit insurance coverage is not quite as simple as just $100,000 is protected.

To learn more about how much of your money in the bank may be protected, visit the online FDIC calculator. The online calculator can even print out a report for you to show your partner or spouse.

In the history of the FDIC protection of banks, no depositer has ever lost one "insured" penny. While that sentance provides comfort, it does not provide security for people that hold deposits in the bank in excess of the insured amount.

Some IndyMac customers had more than $100,000 in their accounts in the bank. In those cases the FDIC may advance deposited up to 50% of the uninsured amount above that and time will tell if more or less can be returned.

Other banks in the U.S. are also possible candidates for banking failures. From concerns about the financial health of Citibank to Fifth Third, National City, Zions, Sovereign, WaMu and National City, both investors and depositers alike are on-edge and uncertain.

The FDIC deserves a real pat of the back for running an operation that smoothly takes over failed banks. They have the bank open on the next business day and ATM, debit and credit cards all still function. A bank failure is hardly an event to worry about, unless you bust the ceilings on the amount of your insured deposits.